Commentary: Fannie and Freddie remain integral despite their failures

07/26/2010 | Wall Street Journal, The

Brian M. Carney, editorial page editor of The Wall Street Journal Europe, writes that President Barack Obama's signing of the overhaul of financial regulation is a reminder of how Fannie Mae and Freddie Mac failed during the mortgage meltdown and yet continue to be on government support. While other financial institutions that received government aid have managed to get back on their feet, Fannie and Freddie continue to post quarterly losses. Despite their losses, the mortgage giants remain central to the mortgage industry, Carney notes.

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