If you were wondering (because I was), about the Freddie Mac and Fannie Mae names that are way too cutesy to be companies managing $6 trillion in funds… turns out they are actually the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association respectively.
- Farmer Mac (the Federal Agricultural Mortgage Corporation)
- Ginnie Mae (the Government National Mortgage Association)
- Sallie Mae (SLM Corporation, formerly the Student Loan Marketing Association)
- and the latest one in trouble, IndyMac (Independent National Mortgage Corporation)
Hmm. It seems our friends across the pond have a liking for giving gigantic monolithic corporations cutesy names.
Which is fair enough. Though you know where you are with an acronym like NAB.