Stop Fannie and Freddie

Cartoon by Gary Varvel
Via Freedom Works

Freedom Works: Introduced by Rep. Jeb Hensarling (R-TX), H.R. 1182 GSE Bailout Elimintation and Taxpayer Protection Act would end conservatorship for government sponsored enterprises Fannie Mae and Freddie Mac. Taxpayers should not be forced to bailout Fannie Mae and Freddie Mac from their poor lending decisions.


Prime examples of crony capitalism, Fannie Mae and Freddie Mac must be forced to sink or swim in a free market. Evidence shows that Fannie Mae and Freddie Mac played a major role in the recent housing bubble. Since these two public companies knew they had an implicit taxpayer bailout guarantee, they took more risks than they otherwise would.


The GSE Bailout Elimination and Taxpayer Protection Act would end Fannie Mae and Freddie Mac's conservatorship within two years. It will immediately provide taxpayers relief by repealing the Affordable Housing Trust Fund, the affordable housing goals mandate and caps their maximum portfolio size at $700 billion. That cap would be reduced to $250 billion over the next five years. Take Action

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Tags: Freedom Works, Fannie Mae, Freddie Mac, GSE Bailout Elimination, Tax Protection Act, Jeb Hensarling To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!