Friday, December 12, 2014

Sen. Richard Shelby (R., Ala.), incoming chairman of the Senate Banking on WATT

Sen. Richard Shelby (R., Ala.), incoming chairman of the Senate Banking
Quotes after Watts actions on Affordable housing funding by Fannie mae and Freddie mac.

said in a statement that it was “misguided” to restore money to the housing “slush funds.”
“FHFA’s decision to begin capitalizing the Housing Trust Fund and the Capital Magnet Fund from [Fannie and Freddie] is misguided,” he said. “With nearly zero capital protecting the taxpayer from losses, Fannie Mae and Freddie Mac are clearly not in the proper financial position to restore contributions to these slush funds. I strongly oppose [FHFA] Director [Mel] Watt’s decision and will continue to fight to protect taxpayers.”
and
House Financial Services Committee Chairman Jeb Hensarling said
"With nearly zero capital protecting the taxpayer from losses, Fannie Mae and Freddie Mac are clearly not in the proper financial position to restore contributions to these slush funds," Shelby said. "I strongly oppose Director Watt's decision and will continue to fight to protect taxpayers."

House Financial Services Committee Chairman Jeb Hensarling said Watt timed the move for the end of the 113th Congress "in a transparent effort to evade scrutiny and frustrate congressional oversight."

He vowed to call Watt to testify on the issue early next month.

"Diverting assets to housing trust funds instead of repaying taxpayers or stabilizing Fannie and Freddie's finances only makes matters worse," Hensarling said.
==========
Hensarling says, or stabilizing Fannie and Freddie's finances!!
As far as repaying taxpayers, we all know that song is over. F&F have paid back $50 BILLION more than they received!! I as a taxpayer am still waiting for my check in the mail for my payback from F&F!! Send each american their portion of the "repaying taxpayers" you speak of republicans! Ill take cash or check, your choice!
As for Sen. Richard Shelby, Fannie mae and Freddie mac has nearly zero capital because you allow the US treasury to TAKE 25 billion a year from the two and send it to the US General fund!!! This is known as the biggest slush fund on the planet!!! You and the FHFA and the Treasury are all responsible for F&F not having any capital. YOU and the FHFA and the Treasury can fix that, Release from conservatorship and allow them to keep THEIR MONEY!!!!!!!!!!!!

No comments:

Post a Comment

leave a reply: