Ginnie Mae, Fannie Mae, Freddie Mac

Brue Berkowitz: Without Fannie and Freddie, goodbye fixed rate mortgages

Without Fannie and Freddie, would we have to say goodbye to fixed rate mortgages? via Bruce Berkowitz

Dear Investor,

Two articles published today in the Miami Herald illustrate how the rulings in Fairholme’s lawsuits against the government (and the other cases pending throughout the country) seeking to invalidate the Net Worth Sweep might hit close to home for Americans. 

Fannie Mae and Freddie Mac are pillars of the housing market.  The articles explain how ordinary Americans will likely be the ones who suffer the most if the companies are not prudently recapitalized and rehabilitated.  Without the liquidity that both . . .

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