Government-sponsored enterprises (GSE) that provide financial services to targeted segments of borrowers in the US periodically come under scrutiny due to concerns about the size and recipients of their subsidies, the implied government liability if these entities default on their financial obligations, and the need for continued GSE status. Fannie Mae and Freddie Mac have received most of the attention due to their large size and dominant role in residential housing finance. In the spring of 2002, however, Farmer Mac came under increased scrutiny.