Oh great. Another GOP attack against Freddie/Fannie. Why do I get the impression that Wall Street who packaged up junk and sold it will get a free pass? The GOP is talking about Countrywide, but of course, that company no longer exists and is part of Bank of America.
Darrell Issa, who would head the lower chamber’s main investigative committee, told the Financial Times in an interview: “We should look at financial entities and either reform them or kill them.”
The conservative Republican from California, who would become chairman of the powerful House oversight and government reform committee, said hearings would focus on whether the federal government should be involved at all in sponsoring home loans for the poor.
The investigations would centre on the roles of Fannie Mae and Freddie Mac, the nationalised government-sponsored lending institutions, which Republicans say contributed strongly to the 2008 meltdown by promoting subprime lending.
