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SFGate: Borrowers will pay the price of payroll tax cut

SFGate: Borrowers will pay the price of payroll tax cut

By Kathleen Pender

December 25, 2011

Just about everyone in Congress and the Obama administration say they would like to wind down the government's near-monopoly of the mortgage market, but it's hard to see that happening as both parties increasingly use Fannie Mae and Freddie Mac as a fiscal policy tool...

Even when Fannie and Freddie were private-sector companies - before they were seized by the government in September 2008 and placed in conservatorship - they were "political institutions," says Richard Green.

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Link: SFGate