Dick Bove Points To Housing Collapse Without Fannie Mae, Freddie Mac Support

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Mark Melin
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Fannie Mae Common Securitization Platform Fannie Mae Mortgage Insurance

In a strongly worded opinion piece, Rafferty Capital Markets equity research analyst Richard Bove says that the government’s plan to wind down Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) would lower housing prices, harm the economy and increase unemployment. “The result (of eliminating Fannie and Freddie) will be to create neighborhoods of rental units — or in my view, instant slums,” Bove, author of the book Guardians of Prosperity: Why America Needs Big Banks wrote. “Given the risks implied by the current proposals, one would think that Americans…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.

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