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September 6, 2019

Trump Admin Calls for Privatization of Fannie Mae and Freddie Mac
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The Trump administration said Thursday it supports the privatization of
Fannie Mae and Freddie Mac, a pair of massive government-supported
companies that back about half of all mortgages in the U.S. The federal
government assumed control of Fannie and Freddie in 2008 at the height
of the global financial crisis, which was triggered by the collapse of
the subprime mortgage market. Trump's plan drew immediate fire from
Democratic leaders. Ohio Senator Sherrod Brown, the ranking Democrat on
the Senate Banking Committee, tweeted, "President Trump's housing plan
will make mortgages more expensive and harder to get. I'm urging the
President: Make it easier for working people to buy or rent their homes,
not harder."


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