Treasury Says GSEs Have an ‘Ongoing Financial Commitment’ to Taxpayers
The MReport - April 22, 2015 - April 23, 2015
THe MReport, By Brian Honea
The U.S. Department of Treasury responded to a letter written by Senator Chuck Grassley (R-Iowa), Chairman of the Senate Judiciary Committee, earlier this month asking when Treasury’s agreement with the Federal Housing Finance Agency (FHFA) to sweep GSE profits into Treasury will end.
In the response letter, dated April 21, 2015, Treasury’s Acting Assistant Secretary for Legislative Affairs, Randall DeValk said that wanted to “clarify some misunderstandings” from some press reports regarding the agreement, and said that the government’s $187.5 billion bailout of Fannie Mae and Freddie Mac with taxpayer funds in 2008 was not an “ordinary” loan.
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