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by CareyBot

Book Review Title: "Guaranteed to Fail: Fannie Mae, Freddie Mac and the Debacle of Mortgage Finance" Authors: Viral V. Acharya, Matthew Richardson, Stijn Van Nieuwerburgh, Lawrence J. Wright Publisher: Princeton University Press, 2011; 232 pages; $24.95I love a double entendre. The team of authors who wrote "Guaranteed to Fail: Fannie Mae, Freddie Mac and the Debacle of Mortgage Finance" apparently do, too. The book's title is not only descriptive, but a pithy primer for those who are unclear on the nature of the debacle to which it refers. The federal government has now spent over $150 billion in taxpayer funds -- and counting -- to bailout these agencies. Those guarantees, the authors argue, do nothing to prevent the inevitable failure of both entities. F...