Treat: Taxpayers May Soon Be Freed from Haunted Housing Bailouts

The newly-appointed Federal Housing Finance Agency (FHFA) Director Mark Calabria is working hard to curtail unnecessary government-sponsored enterprises (GSEs) expansion, protect taxpayers, and unwind the government’s dominant role in the nation’s mortgage market.  After the apathetic five-year tenure of the previous director, Calabria’s plans for reform are a promising light at the end of the tunnel.   He is pressing forward with a measured but ambitious program to rein in the GSEs by requiring them to accumulate more private capital, a significant step toward freeing them from the yoke of government conservatorship.