Explains the purpose and function of government-sponsored enterprises (GSEs). Describes how the housing GSEs segment in the secondary market works. Provides insights on alternative funding strategies and risk, and the necessity of congressional oversight. Focuses on the federal costs of Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation). Contains 17 charts, tables and graphs.

The book demonstrates how politicians and federal agencies dominated Fannie Mae and Freddie Mac and took just thirteen years to wreck the American dream of home ownership.

This book argues that privatization of the government-sponsored enterprises is the only viable way to protect the taxpayers and the economy.