Fannie Mae (FNMA)

[Hollyk]

I finally got around to writing Rep Ed Royce

Dear Mr Royce,

I'm writing regarding your recent statement.

"Contrary to what Fannie and Freddie apologists claim, the GSEs have yet to repay any of the taxpayer-funded bailout funds they received, which makes today's announcement by the FHFA outrageous. Money coming in from the GSEs should go to the taxpayers instead of a slush fund for ideological housing groups to play around with.”

You are clearly mistaken. The fact is that Fannie Mae and Freddie Mac have repaid $225.5 billion of the $187.5 billion they borrowed. However because of an amendment to the original bailout terms they remain in a perpetual state of conservatorship with billions of dollars going to the US Treasury on a quarterly basis.


And what exactly does the US Treasury do with all that money? As a taxpayer I'd like to know. Seems the folks in congress are far more interested in addressing NFL football names than figuring out any meaningful solutions to the problems really plaguing our nation like housing reform and immigration.

Before you speak on a subject have one of your interns research it and brief you on it, or better yet research it yourself.