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.
matty_a t1_iyd4upk wrote
>but are private-sector entities.
Wellllllll....kind of. But this is ELI5 so we'll let it slide!
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