Fannie Mae, Freddie Mac Plan Botched: Ex-FDIC Chairman

By defying and rewriting the terms of conservatorship, the U.S. government acts as a destabilizing force, notes William Isaac, former FDIC Chairman. In an article published in The Wall Street Journal, William Isaac, former chairman of the Federal Depositor Insurance Corp. points out FHFA could have put Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) into receivership instead of conservatorship. Government’s violation of law by seizing profits of Fannie Mae, Freddie Mac William Isaac points out over the past two years, the federal government has violated both the letter…