Corzine: Ditch hybrid structure for Fannie, Freddie

The federal government should ditch the hybrid structure of mortgage giants Fannie Mae and Freddie Mac and fully back them with taxpayer funds, said New Jersey governor Jon Corzine, former CEO of Goldman Sachs.

“I don’t think we can continue with the schizophrenic view that we have today, sort of part public company, part private company, where the leaders of the company do well when things are going well but then the government and the public and the taxpayer has to bail them out when it goes bad,” he said.

This report is by Corbett B. Daly, Washington bureau chief for Thomson Reuters Markets.

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