The article focused on Fortress Investment's Peter Briger, a/k/a "king of debt" a/k/a "junkyard dog," a man who scored big by buying up the so-called "distressed assets" that banks didn't want and were willing to sell off cheap. So, if you're one of millions of struggling homeowners be afraid, be very afraid.
Dissolving Fannie and Freddie makes no sense for several reasons. There is no financing model that has yet been created to replace their securitization structure that in effect guarantees almost all conforming and Hi-Balance conforming loans, and which account for more than 60 percent of loan originations today.
Being a champion of homeownership or affordable housing options is not risky policy, it is essential to growing wealth. Unfortunately, as pointed out by many civil rights organizations, there are provisions of the Johnson-Crapo discussion draft that will only exacerbate the current disparities in homeownership rates.