David Fiderer

David Fiderer

David Fiderer has previously worked in energy banking for more than 20 years. Prior to then, he worked in international tax law. He has written extensively about the financial crisis and is currently working on several projects concerning housing finance. His e-book on Fannie and Freddie is currently being updated to include GSE policy under the Obama Administration and will be published in hard cover.

All David Fiderer's Stories
In hindsight, the U.S. Treasury's support of Fannie Mae and Freddie Mac was structured in a way that proved to be counterproductive.
Fannie and Freddie are irredeemable failures, which must be abolished as the first step in any type of housing finance reform if current and former officials of the U.S. Department of the Treasury are to be believed.
When reading a CBO report, be sure to read all the words, carefully.
In a speech last May, Edward DeMarco declared these truths to be self-evident: "Restoring Fannie Mae and Freddie Mac is not the solution. They failed and their business model failed. Going backwards to an obviously failed model cannot be dressed up with some promise of higher capital or explicit rather than implicit guarantees."
Because the FHFA drew down vast amounts of taxpayer funds to "pay" for accounting provisions that would later be reversed, the GSEs remained saddled with in senior preferred stock that paid a dividend rate of 10%, until that rate was revised upward.
According to Treasury Secretary Jacob Lew and many other others, the moribund market for private-label residential mortgage-backed securities needs reviving.
Private-label residential mortgage securitizations are designed around a strict hierarchy of classes.
How federal regulators fabricated a media narrative with verbal sleights of hand.
For many politicians, GSE reform is a shorthand term, which translates into their plan to shut down the government-sponsored enterprises in favor of an untested system of housing finance.
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