Since the Housing Collapse in 2008, companies Fannie Mae and Freddie Mac were saved by the US government by being lent $189.5 billion. The company earned a record $84 billion in profit in 2013, and the fourth quarter was its eighth consecutive profitable quarter. Next month it will hand over its fourth-quarter dividend of $7.2 billion. That means that Fannie and Freddie Mac will have poured more into federal coffers, $192.4 billion, paying the government more than was received.
Now, key Senators are pushing to wind them down by replacing them with a government-sponsored insurance company. This is a violation of the 5th Amendment and the shareholders' rights. They shouldn't be cash cows to the government. Vanishing Fannie Mae and Freddie Mac would put an end to the housing recovery.



