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Fannie Mae Backed High Risk Mortgages
Reuters reported that Fannie Mae was still the leading home finance company in the United States. According to U.S. Treasury Secretary John Snow, "We need to show the need for a truly independent regulator to cover government-sponsored enterprises."We'd like to see the regulator and the GSE's removed as far as possible from politics. To accomplish that, we think the regulator ought to be self-funded rather than funded through the appropriations process," said Snow.
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