The Federal Housing Finance Agency (FHFA) can use existing powers to reverse the government's control of Fannie Mae and Freddie Mac – without a gridlocked Congress, said Cliff Rossi, professor of the practice in finance at the University of Maryland's Robert H. Smith School of Business and executive-in-residence at the school's Center for Financial Policy.
Cliff Rossi talks about reforms for the mortgage industry.
Research presented at the third annual Journal of Accounting and Public Policy Conference in College Park, Md., shows how the expectation of a safety net — which comes with strings attached — actually reins in shareholders and managers with limited liability.
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Dr. Clifford Rossi is a Tyser Teaching Fellow and executive-in-residence in the finance department at the University of Maryland's Robert H. Smith School of Business. Rossi writes a weekly column for American Banker called "Risk Doctor."