1, Fannie and Freddie play an important role in American real estate finance. If it is allowed to close down, the American housing finance system, which has been running for decades, will face reconstruction, and then the American real estate market will not develop for twenty or thirty years. At present, the total value of mortgage loans held or guaranteed by Fannie Mae and Freddie Mac exceeds 5.3 trillion US dollars, accounting for nearly half of the US 12 trillion mortgage loans.

2. Fannie Mae and Freddie Mac are very important to Americans in history.

In the 1950s, the average housing conditions of Americans were still very poor, but in the 1970s, the housing problem was basically solved, which was mainly attributed to Fannie Mae and Freddie Mac.

3. Fannie Mae and Freddie Mac played the role of redeemer in helping the American financial system tide over the subprime mortgage crisis.

If Fannie Mae and Freddie Mac are allowed to fail, the United States will further decline in the subprime mortgage crisis. After the outbreak of the subprime mortgage crisis, with the closure or contraction of other mortgage providers, it is more important for Fannie Mae and Freddie Mac to provide financing for the mortgage market. In the second quarter of 2006, the mortgage-backed bonds purchased by the two companies only accounted for 38% of the total market size, and by the first quarter of 2008, this proportion soared to 70%.

4. The related bonds issued by Fannie Mae and Freddie Mac with the value of $65,438+$0.5 trillion have become the first choice for pension funds, mutual funds, sovereign wealth funds and central banks' foreign exchange reserves all over the world. If this part is also affected, it will inevitably affect investors' confidence in buying American institutional bonds.

So we can't go straight to bankruptcy proceedings.

Saving is inevitable, but it is only a question of how to save.