Serving Two Masters, Yet Out of Control examines the 2 irreconcilable roles of The Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). In impact these authorities sponsored enterprises serve two masters. As publicly owned firms, they’re required to maximise profitability for his or her shareholders; as authorities businesses, they’ve been assigned public missions for which they obtain an implicit authorities subsidy. The measurement of this subsidy and the way it’s divided between their private and non-private aims, the dangers that these goals create for taxpayers, and the businesses' resistance to efforts by any regulatory physique – and even Congress – to realize management over their actions exemplify the interior tensions created by their conflicting aims. Essays on this quantity tackle the query of whether or not these organizations ought to retain the favored positions which have allowed them to develop to unprecedented measurement, to comprehend extraordinary profitability, and to realize unparalleled affect over the political course of. The editors conclude that the one viable answer is to completely privatize the 2 businesses or to undertake insurance policies that might pressure the businesses to undertake this course themselves.