Ed Royce: “Thank you all. I appreciate the work you do.”

I would like to caution against making a bad situation worse.

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.

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.