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Subordinated Debt Issuance by Fannie Mae and Freddie Mac
2007
Social Science Research Network
Subordinated Debt Issuance by Fannie Mae and Freddie Mac Considerable research has been done on the use of subordinated debt as a source of market discipline for banking organizations. However, little research has been done on the use of such debt as a source of market discipline for Fannie Mae and Freddie Mac. Critics of the subordinated debt programs of the Enterprises have argued that the market may perceive an implicit guarantee of their subordinated debt, in which case the observed changes
doi:10.2139/ssrn.1000264
fatcat:w2xygdtssfezznoph7qckc4yye