There have been many failures at the SEC over the last several years, and despite our hearing testimony from people like Harry Markopolos about the over-lawyered culture at the SEC and the 'investigative ineptitude'--in his words--last Congress, Dodd-Frank rewarded the SEC with additional authority without looking at the fundamental problems within the agency.
Criticizing the SEC's failures and the additional authority granted by Dodd-Frank.
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I plan to introduce legislation with two objectives: The first, to explicitly prohibit Fannie and Freddie from engaging in lobbying activities while in conservatorship.
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 ended largely the pandemic, 16 million to 17 million people's lives have been saved.
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