The mortgage wars: inside Fannie Mae, big-money politics, and the collapse of the American dream

Principal players in the mortgage wars story

The Mortgage Wars and the Financial Crisis. The financial market wildfire ; The largest credit market in the world.

Fannie Mae's Rise to Prominence. Birth, trial, and turnaround ; Managing risk ; The Volcker standard gives Fannie Mae an edge ; Fannie Mae's opponents change tactics ; Conflicts with fast-growing lenders.

The Fight for the Mortgage Market. A surprise from the Treasury Department ; Private-label mortgage-backed securities ; A gathering storm of opposition ; Fannie Mae tightens its disciplines ; Private label takes center stage ; A compromise attempt turns into full-scale war.

Countdown to the Meltdown. Allegations of fraud: the special examination ; Sorting out the facts ; Baseless demand, fateful results ; The market melts down: Fannie Mae is nationalized ; Aftermath.