In a strongly worded opinion piece, Rafferty Capital Markets equity research analyst Richard Bove says that the government’s plan to wind down Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) would lower housing prices, harm the economy and increase unemployment.
“The result (of eliminating Fannie and Freddie) will be to create neighborhoods of rental units — or in my view, instant slums,” Bove, author of the book
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