Mark Calabria on *Shelter From the Storm: How a COVID Mortgage Meltdown Was Averted*
Macro Musings with David Beckworth
00:00
The History of Fannie and Freddie
Dettman: Fannie and Freddie were leveraged 1,000 to 1. That is essentially insolvent given the errors in accounting most days of the week. He says Treasury Secretary Geithner created a profit sweep where they would give up their profits for all of their debt. Dettman: There are some questions about why it was necessary to rescue them from foreign policy.
Transcript
Play full episode
