One of the nation’s most visible and vocal lawmakers has cast some doubt on the safety of doing business with the nation’s two largest mortgage financiers, Fannie Mae and Freddie Mac. Rep. Barney Frank (D-Massachusetts), chairman of the House Financial Services Committee, issued a public statement Friday which essentially warns investors that have lent money to the two GSEs and those that have purchased their mortgage-backed securities (MBS) to expect to incur some losses.
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