Fannie Mae and Freddie Mac have aggressively used their government support to achieve extraordinarily high profitability and domination of the residential mortgage market.

This booktraces the origins of GSEs, contrasts investor-owned and cooperative GSEs, and examines such issues as activities and the quality of oversight.

Because two disparate clients demand loyalty from Fannie Mae and Freddie Mac, these government-sponsored entities must fulfill two ultimately irreconcilable roles.

This book argues that privatization of the government-sponsored enterprises is the only viable way to protect the taxpayers and the economy.