How Much Should the Government Guarantee?

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How Much Should the Government Guarantee? Powered By Docstoc
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Description: "Though Fannie Mae and Freddie Mac say the federal government doesn't guarantee them against failing, Wall Street generally interprets the two companies' congressional charter - and the $2.25 billion line to the Treasury each has - as an implicit guarantee by taxpayers," the Washington Post reported in 1999, for example. The bailout is needed, it is argued, because Fannie Mae and Freddie Mac have used their government-favored position to dominate America's secondary mortgage market.
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