Saturday, September 06, 2008

Maybe This Is Why He Is A "Taxpayer Hero"

The latest debacle in the financial services industry has the federal government planning to take over Fannie Mae and Freddie Mac, two government sponsored enterprises that make and guarantee mortgage loans.

The total potential liability for the federal government: tens of billions of dollars.

The Congressional committee with oversight over Fannie Mae and Freddie Mac: the House Committee on Financial Services ("HCFS") and the Subcommittee on Housing and Community Opportunity ("HCO")

Longtime member of HCFS and HCO: you guessed it, Scott Garrett

1 comment:

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