“Nothing is so everlasting”, famous Milton Friedman, “as a short lived authorities programme”. Friedman died in 2006, a few years earlier than Fannie Mae and Freddie Mac, two monumental government-sponsored enterprises (GSEs) that present liquidity to the American mortgage market, had been bailed out through the world monetary disaster. The corporations had been taken into “conservatorship”, a type of momentary authorities management. It has now been in place for nearly 17 years.
