Fannie Mae Retrospective

In response to all those screaming about what a surprise (and disaster) Fannie Mae and Freddie Mac are, and then using this as evidence of "market" failure, I offer this WSJ retrospective showing that the GSE's are essentially public not private entities and that the problems aren't a surprise to anyone. (Though undoubtedly politicians feign surprise both to absolve themselves of responsibility and in order to ramrod new regulations through Congress.)