Hensarling agrees with 5-year timeline for Fannie, Freddie

08/13/2013 | Hill, The

The winding down of Fannie Mae and Freddie Mac is needed so that taxpayers are not on the hook in case of another boom and bust cycle, says Rep. Jeb Hensarling, R-Texas, chairman of the House Financial Services Committee. The GOP's plan would leave a few agencies in place for first-time and lower-income buyers but would eliminate the government-sponsored enterprises; like the Senate proposal, it calls for a five-year plan for dissolution.

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Hill, The

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