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Article: Open Forum: 'Old Hickory' Meets Today's GSEs.
- Article from:
- National Mortgage News
- Article date:
- October 22, 2001
- Author:
CopyrightCOPYRIGHT 2001 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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President and CEO, Federal Home Loan Bank of Chicago
In 1832, President Andrew Jackson vetoed a bill to recharter the Second Bank of the United States - the GSE of its day. Excerpts from Jackson's veto message as well as Mr. Pollock's commentary are presented as our Open Forum.
Observers of the mortgage industry and Washington policy makers have often voiced concerns about the dominance of the two government- sponsored enterprises, Fannie Mae and Freddie Mac, which together control the secondary market for conforming mortgage loans. Legislation has been introduced in the last two Congresses to tighten their regulatory oversight. However, both firms seem ...