# Prof. Lawrence White on Fannie Mae and Freddie Mac

1 Faculty News September 4, 2013 ![TheStreet logo](/sites/default/files/styles/246w/public/assets/images/thestreet.jpg?itok=2XiyrQ8_)>

Excerpt from [TheStreet.com](http://www.thestreet.com/story/12023425/6/5-years-later-mortgage-market-still-needs-fannie-mae-freddie-mac.html) -- "'The possibility of truly privatizing them isn't there,' says [Lawrence White](http://www.stern.nyu.edu/faculty/bio/lawrence-white), professor of economics at NYU's Stern School of Business and author of Guaranteed to Fail: Fannie Mae, Freddie Mac and the Debacle of Mortgage Finance. Fannie and Freddie were once credible institutions with great human capital but all of that has gone now, he says. That ship has sailed. The blow to their reputations has been too great for either \[agency\] to exist as their former selves."

[Read more](http://www.thestreet.com/story/12023425/6/5-years-later-mortgage-market-still-needs-fannie-mae-freddie-mac.html)