Only a handful of FIRREA cases were filed in the first 20 years after enactment of the statute. In the last two years, however, the government has aggressively used FIRREA to target financial institutions for activities related to the origination, rating, securitization and servicing of residential mortgages.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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