Ed Royce: “But today I am particularly appreciative of my colleagues here from Congress, and the State Department and USAID being…”

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.

It has been an honor, Mr. Yoho, to work with you.

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

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.