In USA Today a member of their staff wrote an editorial, “Our view: Fannie and Freddie should fade away” dated 2/15/2011. The subject is on the Obama Administration’s plan for reforming America’s housing finance market.
They plan proposes several options, one being doing away with the government backed mortgage programs called Fannie Mae and Freddie Mack which the writer agrees with. He discusses how the attempt by our government to fix this area of the economic meltdown has been unsuccessful. There are very few people that have not been affected by this financial crisis in one way or another. It is slowly damaging all areas of the country and the world by causing unemployment and foreclosures, just to name a few.
The writer’s opinion is for the slow fade out of these government programs. He believes that the programs have not worked and it would be more effective to get mortgage business into the private sector and out of the government’s hands. His article is credible because he is discussing an actual plan that the government is working on, not his interpretation of it.
I support his claim; it makes sense that our government needs to take a different approach in the housing and mortgage business. We cannot afford to ever let this problem happen again especially at the tax payers’ expense. The new road to reform is going to be tough, but if we don’t make the necessary changes now we will just end up repeating our past mistakes
