Here’s one of the constant problems with government run businesses — they have many conflicting aims.
For the ordinary business, it has one primary aim — to make profits.
For government run businesses, they have conflicting aims such as profits, hiring certain demographic groups, promoting clean energy, reducing social upheaval and the like.
Fannie Mae has been contradicting the Obama administration’s policies and its own stated intentions by pushing people into foreclosure, sometimes even as the homeowners were negotiating with banks to restructure their mortgages and keep a roof over their heads.
It’s the kind of story that confirms all the frustrations since the housing crisis began. Banks screw up and get piles of federal money. Homeowners — many of whom admittedly got in deeper than they should have on mortgages — try to set things right, but get the boot anyway.