Politics: Sen. Richard Shelby: Financial reform missing Fannie, Freddie
- When home prices finally collapsed, these ticking time bombs exploded, saddling taxpayers with hundreds of billions of dollars of debt.
- Sen. Richard Shelby • Saying why he thinks the financial reform bill should include Fannie Mae and Freddie Mac, two major mortgage companies that fell apart during the financial crisis. He thinks that the financial reform bill should do something about the mortgage giants, which he characterized as costing taxpayers significant amounts of money. During his statement, in response to Obama’s weekly radio address (which tackled health care’s successes), Shelby also criticized a proposed consumer protection watchdog bureau in the Federal Reserve for possibly raising costs for taxpayers. source
