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Article: Open Forum: End GSEs' Perpetual Charters.
- Article from:
- National Mortgage News
- Article date:
- January 23, 2006
- Author:
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Resident fellow at the American Enterprise Institute and former president and CEO of the Federal Home Loan Bank of Chicago.
Mr. Pollock's commentary on GSE charters is presented as our Open Forum.
Here's an issue that GSE reform legislation has not considered, but should: Why do today's government-sponsored enterprises, including Fannie Mae, Freddie Mac and the Federal Home Loan Banks, have perpetual charters? This is a mistake. History teaches an essential lesson: GSEs, if they are created at all, should always have limited-life charters and never be granted perpetual ones.
As the new year gives the House and Senate the chance to discuss how ...