Ed Royce: “I again thank you, Mr. Chairman, for holding this very important hearing on the challenges of democracy.”

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 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.

But I will ask both of you, we have got to engage with countries across Africa even the most challenging countries.