Banks Look to Socialize Mortgage Risk
The willingness of big banks to assume the role of Fannie Mae and Freddie Mac is just the sort of socialist utopia that only Wall Street could invent.
Steve Rosenbush
January 25, 2011
Freddie Mac signage is displayed at the Neighborhood Assistance Corp. of America's (NACA) "Save-the-Dream Tour" at the Los Angeles Sports Arena in Los Angeles, California, U.S., on Thursday, Jan. 20, 2011. Organizers estimate that 100,000 people will seek assistance with home loan modifications during the 11-day mortgage crisis convention. Photographer: Jonathan Alcorn/Bloomberg
Jonathan Alcorn/Bloomberg
