By J.P. Freire, March 3rd, 2011:
Americans want the government to quickly get out of housing finance giants Fannie Mae and Freddie Mac sooner rather than later (38 percent to 26 percent with the rest unsure) according to a new poll from Hamilton Place Strategies and YouGov.
The poll shows that 41 percent of Americans are more concerned with government-involvement in the mortgage market than worry that fewer people owning homes as a result of quickly winding down the feds’ role.
That’s appropriate because since the government took over Fannie and Freddie, taxpayers have lost billions, with no end in sight. Even Rep. Barney Frank, D-Mass., has backed away from his longstanding bullish support of the two GSEs.
In a dissenting report for the Financial Crisis Inquiry Commission, American Enterprise Institute scholar Peter Wallison argued that the government’s involvement in the housing market precipitated the economic collapse of 2008.
House Republicans have pleged to take up reforms, possibly winding them down over the long term, to avert continued taxpayer losses.