Taxpayers have already spent $180 billion bailing out government-sponsored mortgage giants, Fannie Mae and Freddie Mac, and will ultimately spend a lot more. It is time for the Administration and Congress to address the issue to make sure taxpayers will never again be placed at risk. Dick Kovacevich, retired Chairman & CEO of Wells Fargo & Co., and I wrote an article proposing a solution. The article was published in the American Banker on March 8, 2012 (a link to the article is provided below).

Here is the link to the article.