OFHEO Reports Show Regulation Fails Taxpayers: AEI
June 28, 2006
The latest reports from the Office of Federal Housing Enterprise Oversight show that regulation can never protect taxpayers or the economy from the risks created by Fannie Mae and Freddie Mac, according to a GSE scholar at a national think tank. “No one should be surprised that OFHEO found substantial risk-taking as well as accounting fraud at Fannie Mae. The combination of government backing and the opportunity for private profit invites both,” said Peter…