Fannie and Freddie bought a lot of subprime. I had friends that worked there and told me so and I've read about it. Over the long term Fannie made a lot of pe

Fannie and Freddie bought a lot of subprime. I had friends that worked there and told me so and I've read about it. Over the long term Fannie made a lot of people rich. Read Beating the Street by Peter Lynch. He made a fortune off Fannie. Taxpayers will pay, unfortunately. http://www.washingtonpost.com/wp-dyn/content/article/2008/08/18/AR2008081802111.html http://www.washingtonpost.com/wp-dyn/content/article/2008/08... Without Fannie and Freddie and the backing by the US taxpayer Wall Street would not have taken as much risk.