FHFA chief is against government ownership of Fannie, Freddie

06/22/2009 | TIME (subscription required)

James Lockhart, head of the Federal Housing Finance Agency, which is running Fannie Mae and Freddie Mac, said the government should not be in the business of managing the mortgage companies. Lockhart said that his experience has taught him that government ownership of these types of firms does not work. "What I have seen is that government insurance programs are high risk," he said. "It is often difficult in a political environment to calculate or charge an actuarially fair price."

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