Wednesday, July 23, 2008

Fannie Mae and Freddie Mac may receive from Congress more than financial help


We periodically receive newsletters from a wide variety of government reform news sources. These focus on only the major events within their respective areas of expertise. Here is a selection from a recent email newsletter:
From Taxpayers for Common Sense
http://bit.ly/Pohc4

Fannie and Freddie should downsize and be overseen by the Federal Reserve

[...] No matter what happens [to Fannie Mae and Freddie Mac financial troubles] – even if a bailout is avoided – strong strings must be attached [by Congress]. Fannie and Freddie are going to have to shrink and they are going to have to be overseen by the Federal Reserve. In writing the bailout package, Sen. Chris Dodd (D-CT), Chairman of the Senate Banking Committee said that he was “determined to do this early but more determined to go it right.” We sure hope so.
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