A) Freddie and Fannie did better than the rest of the industry.
B) Fannie and Freddie have over 5 trillion dollars in their portfolios, owned and guaranteed. The mortgages from before 2006 are pretty sound, from 2006 are not so good, from 2007 really bad - but nowhere near as bad as those from the rest of the industry.
C) Fannie and Freddie should never have been "private" in the first place: trying for year after year growth to keep their stock growing led them to make a lot of mistakes, often aided and abetted by their political friends.
B) Fannie and Freddie have over 5 trillion dollars in their portfolios, owned and guaranteed. The mortgages from before 2006 are pretty sound, from 2006 are not so good, from 2007 really bad - but nowhere near as bad as those from the rest of the industry.
C) Fannie and Freddie should never have been "private" in the first place: trying for year after year growth to keep their stock growing led them to make a lot of mistakes, often aided and abetted by their political friends.