Economics

Reason Foundation's Anthony Randazzo Tells Congress to Ditch GSEs Already; Special Appearance by Rep. Barney Frank

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Reason Foundation's Anthony Randazzo testified before the House Committee on Financial Services at an April 14, 2010 hearing to discuss reforming the regulatory framework for housing finance.

Randazzo argued that government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac played a significant role in creating the housing bubble, and that current U.S. policy is perpetuating a cycle of boom-and-bust in the housing market. He also argued that before there can be a genuine, sustainable recovery, Congress will have to eliminate the GSEs and open more of the mortgage market to the private sector.

Approximately 12 minutes. Go to Reason.tv for downloadable versions of this and all other Reason.tv vids.