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Capito Responds to Administration's Plan to Reform Fannie Mae and Freddie Mac

Statement

Date: Feb. 11, 2011
Location: Washington, DC
Issues: Finance and Banking Housing and Property

Today, Congresswoman Shelley Moore Capito, R.-W.Va., Chairman of the Subcommittee on Financial Institutions and Consumer Credit, released the following statement in response to the Administration's proposal to reform GSE's Fannie Mae and Freddie Mac:

"The Administration's report today is a starting point on how to best wind down the GSE's. The previous business model of private gains and public losses was an injustice to the American taxpayers. It allowed the GSE's to take on far too much risk, resulting in a government rescue at the taxpayer's expense. I look forward to working with my colleagues on the Financial Services Committee and the Administration on a plan to ensure accountability and transparency in Housing finance."


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