Legislative Experts Question Legality of Treasury’s GSE Moves
American Banker - January 29, 2015 - February 1, 2015
American Banker, By Brian Collins
The Treasury Department has exceeded its authority by keeping Fannie Mae and Freddie Mac in conservatorship so long and taking all their profits, two legislative experts said Thursday.
Michael Krimminger, a former general counsel for the Federal Deposit Insurance Corp., and Mark Calabria, a former top aide to Senate Banking Committee Chairman Richard Shelby, said theÂ Treasury’s actions violate a 2008 law that they helped to draft.
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