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