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Federal Reserve Bank of Philadelphia
Business Review
The government-sponsored enterprises: past and future
Ronel Elul

Fannie Mae and Freddie Mac's role in the housing bubble and financial crisis remains controversial. Did they precipitate or at least worsen the crisis? How do their benefits compare against their losses? Ronel Elul traces their evolution and actions and outlines reform proposals.

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Ronel Elul, "The government-sponsored enterprises: past and future" , Federal Reserve Bank of Philadelphia, Business Review, issue Q1, pages 11-20, 2015.
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Keywords: Fannie Mae; Freddie Mac; Housing bubble
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