On the recordNovember 14, 2011
If Congress had acted, Fannie and Freddie could have been prevented from crowding out the private sector by backing 71 percent of mortgage originations.
Source
congress.govRichard Shelby: “If Congress had acted, Fannie and Freddie could have been prevented from crowding out the private sector by backing 71…”
Editor's note · Context
Shelby argues that congressional inaction allowed Fannie and Freddie to dominate the mortgage market.
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