Thursday, June 10, 2010

Keeping Tabs on Those People in Government - Still No Reforms of Fannie in Sight

This is how Michigan Representatives voted on reforming Fannie Mae and Freddie Mack - Not to abolish this government run and mismanaged entity but to reform it. That's a laugh. You can get your state and how your reps voted HERE.

Reform Fannie Mae and Freddie Mac
Savings estimated at $30 billion.
Since taking over Fannie Mae and Freddie Mac, the two government sponsored mortgage-backing companies, taxpayers have injected over $145 billion into the two companies. Yet Congress still has not considered proposals to reform these companies and recoup taxpayer funds. The Congressional Budget Office has estimated that absent reform, costs to taxpayer will continue to grow. Taking action to reform these companies now (as opposed to delaying action as some have proposed) by ending their government conservatorship, shrinking their portfolios, establishing minimum capital standards, and bringing transparency to taxpayer exposure could generate savings of up to an estimated $30 billion. Go HERE for your state.

John Dingell NO District 15
Dale Kildee NO 5
Sander Levine NO 12
Thaddeus McCotter NO 11
Gary Peters NO 9
Mark Shower NO 7
Bart Stupak NO 1
John Conyers NO 14

Fred Upton YES 6
Dave Camp YES 4
Vernon Ehlers YES 3
Candice Miller YES 10
Pete Hoekstra NO VOTE 2
Mike Rogers YES 8

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