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ucdp: Who is Fannie Mae?
- 12/08/14 11:14 PM
Part One: History of Fannie Mae
From a historical standpoint of Fannie Mae as a Government-Sponsored Enterprise (GSE), we need to reflect back to the Great Depression and the U.S. government’s initial responses to the housing and mortgage crisis of the 1930s. Although the Federal Reserve was created in 1913 as the lender of last resort for the federal government, it was limited in what it could do to restructure and restitute the entire American economy. So, during President Herbert Hoover’s administration the Reconstruction Finance Corporation (RFC) was established in 1932. This government corporation that operated until 1957 was set up … (0 comments)
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