"Freddie Won't Buy Some Subprime Loans" – Wall Street Journal

The Wall Street Journal reports in a February 28, 2007 article "Freddie Won't Buy Some Subprime Loans" on Freddie Mac's announcement that it would no longer purchase certain subprime loans that subject borrowers to steep increases in payments after the first two or three years, or granted to borrowers with weak credit records. The article also notes reaction to the announcement, notably Rep. Barney Frank (D., Mass.), chairman of the House Financial Services Committee, who said, "It is responsible, and it demonstrates how [Freddie and Fannie] can be a force for good."