Ed Royce: “If the President believes that the Treasury can enact effective economic sanctions in the future, then such an option…”

In the decade leading up to the financial crisis of 2008, Fannie Mae and Freddie Mac spent nearly $200 million on lobbying activities and campaign contributions.

I hope this Administration and this Congress have learned something from this failed duopoly and do the hard work necessary to reform our housing finance system.

I plan to introduce legislation with two objectives: The first, to explicitly prohibit Fannie and Freddie from engaging in lobbying activities while in conservatorship.

The power and influence they wielded had few peers.