People are willing to lend to these organizations at low interest rates because they think there's an implicit government guarantee.

人们愿意以低利率,向这些组织提供融资,因为他们认为这里有政府默认的担保

耶鲁公开课 - 金融市场课程节选

There are critics of Fannie and Freddie who say, the government guarantee doesn't sound right because why is the government guaranteeing a private company?

房利美和房地美的评论家们认为,政府担保听起来有点不对劲,政府为何要担保一个私人企业呢

耶鲁公开课 - 金融市场课程节选

On the other hand, the government says, it's not guaranteeing them.

同时,政府也宣称,不会为他们进行担保

耶鲁公开课 - 金融市场课程节选