U.S. Secretary of the Treasury Steven Mnuchin unveiled a far-reaching plan last week to reform the nation’s housing finance system—including the troubled Fannie Mae and Freddie Mac—and reduce the federal government’s role in the housing market.
Over the past 10 years, Fannie Mae has taken in $119.8 billion in taxpayer bailouts, with Freddie Mac taking in $71.6 billion, according to The Washington Post. But as they became profitable again, they have together remitted $300 billion in dividends to the U.S. Treasury.
