What do we do with Fannie Mae and Freddie Mac, government-subsidized private companies designed to finance home mortgages, which have a history of politically-motivated mass financing of people who don't loans back, while resisting reasonable regulation?
Do we: Continue to give them billions? Take them over and make them a full government agency? Sell them and sever the taxpayer link? Close them down and let the market allocate credit?
That's what the U.S. House Banking subcommittee headed by Rep. Paul Kanjorski, D-Pa., is looking at today. Witness list and testimony here.