'GETTING MONEY TO WHERE IT HASN'T GONE'

摘要

Franklin D. Raines took over Fannie Mae four years ago in the middle of a housing boom. His goal: to make sure the boom didn't elude lower-income folks who often find it hard to buy a house. He has been successful―homeown-ership has risen sharply in all income brackets and especially in the lower rungs. While the government-backed company doesn't lend money directly to homebuyers, it buys mortgages from banks and other lenders, enabling them to lend more. But critics dog Washington (D.C.)-based Fannie Mae, charging that its government sponsorship allows it to borrow money more cheaply than rivals, that its debt is too high, and that its reliance on derivatives could land it in trouble.