Fannie Mae, Freddie Mac Are Not ‘Failed Experiments’: Bove

Last Friday, Treasury Under Secretary Mary Miller said that recapitalizing Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) was an unrealistic plan that would leave taxpayers on the hook for the next twenty years while the GSEs recapitalize, and then its advocates are just trying to avoid difficult decisions. One of those advocates, Rafferty Capital Markets VP of Equity Research Richard X. Bove, has pushed back against Miller’s speech, accusing her of placing hyperbole and politics above good policy. Miller calls Fannie Mae and Freddie Mac a failed…