David C. John, a senior research fellow at The Heritage Foundation, notes that the budget plan proposed by Rep. Paul Ryan, R-Wis., calls for winding down Fannie Mae and Freddie Mac. Mr. Ryan's proposal suggests that private secondary lenders be allowed to "fairly, freely and transparently compete, with the knowledge that they will ultimately bear appropriate risk for the loans they guarantee. Their viability and profitability will be determined by the soundness of their practices and the value of their services." That's a worthwhile change, Mr. John wrote.
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