If Congress wants the public benefit, then Congress and the White House should have wiped out the public shareholders in 2008 and taken over the companies.
Admittedly they may not be the same shareholders, but let's not forget that Fannie/Freddie shareholders have benefited untold billions pre-crisis by being able to fund for years with an implicit government guarantee that was never paid for.
http://www.federalreserve.gov/pubs/feds/2005/200505/200505pa...
What they should do is auction off the assets, pay off their creditors and let the banks, credit unions and other organizations manage the risk.
There's plenty of competition in the lending business.
Make a loan, collect the fee, dump the junk on the tax payer.
Government enabled and subsidized this. And still does. Home loan deductions, anybody?
We didn't have to "bail them out". We should have let them go chapter 11. Plenty of folks with responsible finances could have bought up the assets.