Ed Royce: “I yield 2 minutes to the gentleman from New Jersey (Mr. Smith), chairman of the Foreign Affairs Subcommittee on Africa…”

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

As they say, never again, and here it is going on with the international community held spellbound in the middle of it.

I share the judge's sense of urgency on this and I think that is why we need fully funded programs.

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.