The Funny Business of Farm Credit

http://www.counterpunch.org/2016/05/30/the-funny-business-of-farm-credit/
Date Written:  2016-06-30
Publisher:  CounterPunch
Year Published:  2016
Resource Type:  Article
Cx Number:  CX19481

In May of 1998 we held a conference dedicated to two Government-sponsored Enterprises (GSEs) -- Fannie Mae and Freddie Mac. In my statement to that assembly, I noted that both corporations had been enjoying good times, but cautioned that one of the unintended consequences of fat profits over a long period is the tendency of both government and private corporations to start believing in the fantasy of ever-rising profits. GSEs often escape the accountability that Congress or regulatory agencies should impose.