| “
|
In moving, even tentatively, into this new area of lending, Fannie
Mae is taking on significantly more risk, which may not pose any
difficulties during flush economic times. But the government-subsidized
corporation may run into trouble in an economic downturn, prompting a
government rescue similar to that of the savings and loan industry in
the 1980's.
''From the perspective of many people, including
me, this is another thrift industry growing up around us,'' said Peter
Wallison a resident fellow at the American Enterprise Institute. ''If
they fail, the government will have to step up and bail them out the
way it stepped up and bailed out the thrift industry.''
|
” |
