Because two disparate clients demand loyalty from Fannie Mae and Freddie Mac, these government-sponsored entities must fulfill two ultimately irreconcilable roles.
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Peter J. Wallison is Arthur F. Burns Fellow in Financial Policy Studies and codirector of AEI's program on financial policy studies. As general counsel of the U.S. Treasury Department, he had a significant role in the development of the Reagan administration's proposals for the deregulation of the financial services industry. He also served as White House counsel to President Ronald Reagan
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