Freddie.

Freddie.

Freddie Eckland.

Mr. Freddie Ruhindi

Hear that, Freddie?

Freddie, there's something...

Go ahead, Freddie.

So long, Freddie.

Freddie, take this chair.

Have you heard from Freddie?

What did they say, Freddie?

Psst! Freddie, come over here.

Freddie! Come over here quick.

Read it, Freddie. Read it!

By a look she gave Freddie Williams.

Come on, Freddie. Get a move on.

Mustn't talk shop, Freddie, not in the mess.

Father, Freddie Williams, Charlotte's manager, spotted me as Doris.

Freddie Ross ran me down, I had to see you.

You deliberately tried to pin it all on Jonathan assisted by Mr. Freddie Williams.

I was to kill her husband to leave the coast clear for that Freddie Williams.

The blame for the real estate crisis in the United States falls on two financial institutions Fannie Mae and Freddie Mac.

More importantly, the lobbying of the quasi governmental mortgage lenders Fannie Mae and Freddie Mac would not have been so successful without the idea of the ownership society. How could anyone oppose turning every American into an owner?

Third, the large government sponsored mortgage enterprises, Fannie Mae and Freddie Mac, should be used as macroeconomic policy tools to restore housing construction to its long term trend level. This should have been done five years ago, but better late than never.

Roughly a third, mesmerized by the meretricious appeal of the Efficient Market Hypothesis, argued that governments were the original sinners. Their ill conceived interventions notably the US backed mortgage underwriters Fannie Mae and Freddie Mac, as well as the Community Reinvestment Act distorted market incentives.

This criticism reflects the fact that the United States has just been through a major financial crisis, in the course of which the Fed took a series of extraordinary steps. It helped bail out Bear Stearns, the government backed mortgage lenders Freddie Mac and Fannie Mae, and the insurance giant AIG.

NEW DELHI Few areas of economic activity in the United States are more politicized than housing finance. Yet the intellectual left has gone to great lengths to absolve regulators, government lending mandates, and agencies like Fannie Mae and Freddie Mac of any responsibility for the housing boom and the subsequent bust.

But in a climate of profound uncertainty, self help is not enough. Governments or central banks are needed, because only they are both big and quick enough. Only they could quickly come to the assistance of the giant housing finance institutions US Fannie Mae and Freddie Mac, and then deal with AIG.

In the US, the penalties have been dominated by fines for sales of misleadingly marketed mortgage backed securities, often to the two government supported entities Fannie Mae and Freddie Mac. The banks, it would be fair to say, do not wholly accept regulators arguments about that, but they have bitten their tongues and paid up.

Public debt includes not only the federal government s current 13.2 trillion, but another 3 trillion owed by America s states, counties, and cities. In addition, there is the 3.9 trillion in debt owed by America s government backed housing finance agencies (Fannie Mae, Freddie Mac, and others), which currently underwrite more than 90 of all US mortgages.

CHICAGO Before the recent financial crisis, politicians on both sides of the aisle in the United States egged on Fannie Mae and Freddie Mac, the giant government backed mortgage agencies, to support low income lending in their constituencies. There was a deeper concern behind this newly discovered passion for housing for the poor growing income inequality.

In the US, real estate prices remain in free fall, and the banking crisis is still claiming new victims (Bear Stearns, IndyMac, First Heritage Bank, First National Bank of Nevada, First Priority Bank, Fannie Mae, Freddie Mac, etc.). In the banking world as a whole, expected write offs now considerably exceed the 400 billion mark projected just last spring.

In August 2007, few market participants, even those with access to mountains of information and a broad range of expert opinions, had a real clue as to what was going on. Certainly the US Congress was clueless its members were still busy lobbying for the government backed housing mortgage agencies Fannie Mae and Freddie Mac, thereby digging the hole deeper.

For example, the local real estate boom and bust in Nevada was as severe as that in Spain or Ireland. But, in Nevada, which is similar in size to Ireland, the local banking system s losses were absorbed to a large extent by US banking union institutions, particularly the Federal Deposit Insurance Corporation (FDIC) and the federal mortgage refinancing agencies, Fannie Mae and Freddie Mac.