Because two disparate clients demand loyalty from Fannie Mae and Freddie Mac, these government-sponsored entities must fulfill two ultimately irreconcilable roles.

Because two disparate clients demand loyalty from Fannie Mae and Freddie Mac, these government-sponsored entities must fulfill two ultimately irreconcilable roles.

A radical rethinking of housing policy is needed to allow housing markets to operate freely--and to make housing affordable and plentiful for the middle class and the poor.

A radical rethinking of housing policy is needed to allow housing markets to operate freely--and to make housing affordable and plentiful for the middle class and the poor.