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Allard Comments on Financial Regulators' Actions with Respect to Fannie Mae and Freddie Mac

Statement

Date: Sept. 8, 2008
Location: Washington, DC


ALLARD COMMENTS ON FINANCIAL REGULATORS' ACTIONS WITH RESPECT TO FANNIE MAE AND FREDDIE MAC

U.S. Sen. Wayne Allard (R-Colo.), a member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, commented today regarding financial regulators' actions with respect to Fannie Mae and Freddie Mac:

"While the regulators are taking steps necessary to protect the housing markets and economy, it is disappointing that we reached the point where government intervention became necessary," said Allard. "For more than five years I have worked to increase the level of oversight necessitated by such large, complex institutions. Had such efforts not been repeatedly blocked by the Democrats, we might not find ourselves in this situation."


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