Government Sponsored Enterprise

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Government Sponsored Enterprise

A privately held or publicly traded company created by the U.S. Government for some purpose thought to benefit the American economy. For example, Freddie Mac was originally a GSE created to encourage homeownership among middle class and working class Americans. Because it is "sponsored" but not owned by the government, GSE stocks carry higher risk than, say, Treasury securities, which are backed by the full faith and credit of the United States. However, GSEs have an implicit guarantee that the government will not allow them to fail. Indeed, when Fannie Mae and Freddie Mac collapsed in 2008 they almost instantly received federal assistance.
References in periodicals archive ?
One case in point was the purchase, by the Life Insurance Corporation of India, of a 27 percent stake in the profitable government-owned Corporation Bank.
triggered a computer failure that took further 10 minutes to restore, said Richard Dudley, a spokesman for Air Services Australia, a government-owned corporation that manages the airport's air traffic control services.
CITIC is a Chinese government-owned corporation created to engage in commercial activity as an agent in China's economic reform process.
The then Trade and Industry Minister Ariel Sharon named Eitan as chairman of the Board of Israel Chemicals, Israel's largest government-owned corporation. Colonel Aviem Sella, the officer in Israel's Air Force who established the initial contacts between Pollard and Eitan, was promoted to the rank of general and named commander of Tel Nof, Israel's largest air base in the Negev.
The administration also hopes to convert the Federal Housing Administration to a government-owned corporation. As HUD sees it, the new Federal Housing Corporation would be more flexible and less bureaucratic but would retain the public-purpose focus.
Kowloon-Canton Railway Corporation (KCRC) is a wholly government-owned corporation established under the Kowloon-Canton Railway Corporation Ordinance on 24 December 1982.
Duval, former president of the Societe des alcools du Quebec (SAQ), a government-owned corporation that is responsible for the sale of alcoholic beverages in the province, says, "Who buys beer and wine?
The BBG is a US government-owned corporation created by Congress decades ago to run all of the US government's international civilian broadcasting efforts.
A government-owned corporation, K-water develops and manages a host of facilities and programs designed to provide the best water supply and water quality available to operate 12 multipurpose dams and other projects.
The National Railroad Passenger Corporation, doing business as Amtrak (reporting mark AMTK), is a government-owned corporation that was organized on May 1, 1971, to provide intercity passenger train service in the United States.
The first North and South Superhighways, the first long bridge connecting Mactan island to Mandaue City and the Samar Leyte bridge; the first Export Processing Zone, the first government owned oil refining company - Petron, the first gold and copper smelter company in Leyte, the first geothermal electricity power plant and the first Energy Development Corporation (EDC), many of them owned by Petron a government-owned corporation. Need I say more?
Gladstone Ports Corporation CEO Peter OSullivan said he was is pleased the Government-Owned Corporation had received approval to lease a parcel of strategic port land for the construction of a new LNG operations facility.

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