Immediate Steps to Protect Taxpayers from the Ongoing Bailout of Fannie Mae and Freddie Mac

Read the full testimony as an Adobe Acrobat PDF

In its February 11 Report to Congress, the Obama administration asked Congress to work with it to fashion legislation to accomplish three broad goals of housing finance market reform:

  • The winding down of Fannie Mae and Freddie Mac (the GSEs);
  • Returning FHA to its traditional role a targeted lender of affordable mortgages; and
  • A largely privatized system of housing finance with an open question as to the level of government involvement.

These three goals provide the opportunity for a possible bi-partisan solution that could result in true reform of our housing finance market. I congratulate this subcommittee for its contributions towards achieving this consensus that the GSEs must be wound down. I will address this opportunity later on in my testimony.

Secretary Geithner in testimony before the full Financial Services Committee on March 1 asked that these three goals be accomplished sooner rather than later during this Congress. It is therefore a pleasure to testify today on the thrust of these eight proposed bills which aim to move forcefully forward on achieving this necessary and critical goal.

Edward Pinto is a resident fellow at AEI.

 

Also Visit
AEIdeas Blog The American Magazine
About the Author

 

Edward J.
Pinto

What's new on AEI

Making Ryan's tax plan smarter
image The teacher evaluation confronts the future
image How to reform the US immigration system
image Inversion hysteria
AEI on Facebook
Events Calendar
  • 01
    MON
  • 02
    TUE
  • 03
    WED
  • 04
    THU
  • 05
    FRI
Wednesday, September 03, 2014 | 9:00 a.m. – 10:30 a.m.
From anarchy to Augustus: Lessons on dealing with disorder, from Rome’s first emperor

We invite you to join us for two panel discussions on how Augustus created order from chaos 2,000 years ago, and what makes for durable domestic and international political systems in the 21st century.

Event Registration is Closed
Wednesday, September 03, 2014 | 12:00 p.m. – 1:30 p.m.
Multiple choice: Expanding opportunity through innovation in K–12 education

Please join us for a book launch event and panel discussion about how a marketplace of education options can help today's students succeed in tomorrow's economy. Attendees will receive a complimentary copy of the featured book.

Thursday, September 04, 2014 | 12:00 p.m. – 1:30 p.m.
How conservatives can save the safety net

Please join us for a luncheon event in which our panel will discuss what conservatives can learn from how liberals talk and think about the safety net and where free-market economics, federalism, and social responsibility intersect to lift people out of poverty.

No events scheduled this day.
No events scheduled this day.
No events scheduled today.
No events scheduled this day.
No events scheduled this day.
No events scheduled this day.