Viewing a single comment thread. View all comments

ActualGiantPenguin t1_iyc6cek wrote

Bear Stearns/Lehman Brothers weren't obscure at all, they just didn't generally offer consumer services except to high-net-worth individuals.

Similarly, Fannie Mae/Freddie Mac were founded to buy mortgages from banks, not to deal directly with consumers. They were both founded by the federal government (hence the similar names) but are private-sector entities.

12

matty_a t1_iyd4upk wrote

>but are private-sector entities.

Wellllllll....kind of. But this is ELI5 so we'll let it slide!

2