First-best Governance of Fannie and Freddie (Home Mortgage Market):


Dear President Obama,

People see national security as paramount because it safeguards their hard-earned wealth. So, preservation of hard-earned wealth should be the ulterior national goal.

People work hard to accumulate assets like home, land, financial holdings and cash to enjoy freedom bondage. If they trust only a government institution like the Pentagon for national security, why be presumed to accept private financial institutions for preservation of their hard-earned wealth?

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