Government

Mend, Don’t End, Fannie and Freddie

Conservatives blame the mortgage giants (wrongly) for the financial crisis, and both parties want them dead. But to finish the job of financial reform without destroying the housing market and costing taxpayers billions, we need to let them live.

Next to a Miracle

The first session of the U.S. Congress was as bitter and riven by divisions—over ideology, taxes, federal versus state power, the role of “big money,” flexible versus strict interpretation of the Constitution—as the 114th Congress. The difference is, we can be proud of the first.