This booktraces the origins of GSEs, contrasts investor-owned and cooperative GSEs, and examines such issues as activities and the quality of oversight.

The current approach toward U.S. securities regulation by the Securities and Exchange Commission should be revamped by implementing a regime of competitive federalism.

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