When distinguished economist Alan Meltzer recently attacked the policies of the US Federal Reserve, its chairman, Ben Bernanke, retorted that their…
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, was set up as a stockholder-owned corporation chartered by Congress in 1968 as a government-sponsored enterprise (GSE), but founded in 1938 during the Great Depression. The corporation's purpose is to purchase and securitize mortgages in order to ensure that funds are consistently available to the institutions that lend money to home buyers.






















