A new study from the Federal Reserve Bank of Minneapolis makes the not-so-subtle suggestion that would-be homeowners might be better served by receiving a direct subsidy from Uncle Sam rather than having the government continue to indirectly support Fannie Mae and Freddie Mac. The research builds upon a 2001 analysis from the Congressional Budget Office that concluded the benefits provided to Fannie and Freddie amounted to an $8.3 billion a year subsidy to the