From Planet Money:
Fannie Mae and Freddie Mac have worked for decades to help more Americans become homeowners. Now one former Freddie Mac employee has asked us for the opportunity to apologize for doing such a good job of fulfilling that mission.
Jacob Kosoff used to work as an economist for Freddie Mac’s “Mission Department.” His job was to look at the loan data each month and promote homeownership. He says his team was full of true believers who called themselves “housers.”
“I thought subprime was the best thing in the world,” he says.