Shaky Ground: The Strange Saga of the U.S. Mortgage Giants

"Best Book Ever Read Because of Bonus Underlying Enlightenment of Our Political Machinery" according to Matt Hill. This would have to be one of the best books I've ever read. Not exactly for the reason you would think though. This book belongs in the hand of every teenager or adult that plans on being involved more in our political system (this should be everyone). The only way this whole s. MT57 said Brief Update of Fannie & Freddie ( although nothing's really changed). This is a very brief (161 pages) update on the status of Fannie Mae and Freddie Mac, 6 years after the federal takeover. Nothing has really changed, which is the author's point. They clearly were at the center of the financial crisis, and all of the other major financial instit. Laocoon1Brilliant update on the role of the mortgage giants in the financial crisis and after Laocoon143 Brilliant and concise overview of what has happened to mortgage giants Fannie Mae and Freddie Mac since the financial crisis. I'm retired from high-level positions in handling mortgage portfolios, and it's my considered professional opinion that Bethany nails it on the key fina. Brilliant update on the role of the mortgage giants in the financial crisis and after Brilliant and concise overview of what has happened to mortgage giants Fannie Mae and Freddie Mac since the financial crisis. I'm retired from high-level positions in handling mortgage portfolios, and it's my considered professional opinion that Bethany nails it on the key fina. said Brilliant update on the role of the mortgage giants in the financial crisis and after. Brilliant and concise overview of what has happened to mortgage giants Fannie Mae and Freddie Mac since the financial crisis. I'm retired from high-level positions in handling mortgage portfolios, and it's my considered professional opinion that Bethany nails it on the key fina

Washington Post Notable Nonfiction Book of 2015Washington Post Nonfiction Bestseller"Bethany McLean has written an insightful guide to one of the fascinating true-financial-crime cases of our time."--Simon Johnson, The Washington Post"Bethany McLean romps through the well-intentioned founding of Fannie and Freddie, via their gradual corruption to the current unhappy limbo, with the government and hedge funds fighting over the scraps in the courtsMcLean deftly steers a sensible course through the competing claims."--Tom Braithwaite, Financial Times"An excellent new book that attempts to make sense of the senseless history of Fannie and Freddie."--Alan Murray, Fortune"In a short, lucid paperback (or e-book) from a new publishing arm of Columbia University, McLean explains how the topsy-turvy world of Fannie and Freddie came to be and why government control of them likely will limp along indefinitely as the major unresolved issue of the financial crisis."--USA Today"The latest very smart finance book by McLeanwho found a very good topic in our deeply flawed home mortgage system."-- The National Book Review"Readers of this maddening, sharp report will rightly wonder why Fannie Mae and Freddie Mac have been allowed to survive and why we can't do better."--Kirkus Reviews"McLean ably describes a situation where, seven years past the brink of economic collapse, Fannie and Freddie are severely undercapitalized, faced with investor lawsuits, and caught up in political infighting that prevents either comprehensive reform or their ultimate abolition." Publishers Weekly

Roughly 70 percent of the American population has a mortgage, and for most people, the mortgage is the most important financial instrument in their lives. The U.S. housing market is roughly $10 trillion, making it one of the largest segments of the bond market. In a way, the situation is ironic: housing was at the root of the financial crisis, and six years after the meltdown, housing finance is still the greatest unsolved issue. Given the $188 billion government bailout of the two firms — the most expensive bailout in history — the politics surrounding housing are worse than they've ever been, and the two gigantic firms sit in limbo. But until the financial crisis, few people knew the essential role that Fan