freddie mac, when are you coming back? posted: Fri 2019-01-04 10:04:34 tags: n/a
I overheard someone talking about "Ginnie Mae" a while back and I also vaguely knew that "Freddie Mac", "Sallie Mae", Fannie Mae" etc. were things, but not much about their structure. If you Google "Ginnie Mae" the summary blurb says something about it being a "government owned corporation", and if you Google that phrase in turn it suggests the Wikipedia article covering "State-owned enterprise".

Chasing down the rabbit hole, we find State-owned enterprises of the United States
...Freddie Mac: Fed Home Loan Mortgage Corp
...Fannie Mae: Fed Nat'l Mortgage Assoc
...Ginnie Mae: Gov't Nat'l Mortgage Assoc

Sallie Mae was a state-owned entity when it was created in 1973, and at some point it somehow went private and started offering private student loans as well as fulfilling gov't contracts to serv ice federal loans. That doesn't smack of nepotism and corruption at all, nope...