Fannie, Freddie Mustn't Be Left Out Of Reform | Mark A. Calabria | Cato Institute: Commentary

Fannie, Freddie Mustn't Be Left Out Of Reform | Mark A. Calabria | Cato Institute: Commentary: "Ultimately, Fannie and Freddie were not bailed out in order to save our housing market; they were bailed out in order to protect the Chinese Central Bank from taking losses. Without the implicit federal guarantee of Fannie and Freddie, trillions of dollars of global capital flow would not have been funneled into the U.S. subprime mortgage market."