Mr. Furman indicated that Mr Obama could back further intervention to support Fannie and Freddie, but said “there must be no bail-out” of “shareholders or management”. Fannie and Freddie had a “problematic business model – heads they win, tails the taxpayer loses”. He said: “Any fix for their problems needs to be part of a longer term solution that revises that business model.”The 38-year old Mr. Furman is a protégé of Bob Rubin.
There you have it.
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