Glen Hubbard, Willard Romney's Chief Economic Advisor wrote in 2003:
"my assessment of the firm’s liquidity risk management practices leads me to conclude that a “liquidity crisis” for Fannie Mae is an extremely remote possibility."
and
"These facts suggest that Fannie Mae’s overall asset risk is lower than that of other financial institutions."
and
"Fannie Mae has procedures in place to measure and manage its market and credit risk"
and
"To summarize, the discussion above suggests that Fannie Mae’s assets are more transparent, more easily priced, and more marketable and actively traded than those of
commercial banks"
For the record, Prof. Hubbard was Geroge W. Bush's Chairman of the Council of Economic Advisors.
This just demonstrates the power of the evil of Jimmy Carter, Barney Frank, Chris Dodd and Bill Clinton. They were able to fool the good professor into writing positive things about Fannie Mae.
And Rush Limbaugh told us that George W. Bush repeatedly warned us about Fannie Mae and their loans to blah people. Except when the Chairman of his CEA was writing otherwise.
Fannie Mae is Hunky Dory