Future of Fannie, Freddie in question

Roadmap to Recovery: Raging debate over GSEs' role in meltdown

It’s a debate that could rage for years: were Fannie Mae and Freddie Mac catalysts for the housing meltdown and financial crisis, or victims of a boom-bust cycle they couldn’t have foreseen?

The prevailing views on the topic could help decide whether Fannie and Freddie — placed into government conservatorship in September — will be rehabilitated or allowed to go the way of the dinosaur.

Republican presidential candidate Sen. John McCain is among those who see Fannie and Freddie as catalysts — "the match that started this forest fire."