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TPA Joins Coalition Urging Prevention of Another Taxpayer Bailout of Fannie Mae and Freddie Mac
09/02/2015 at 06:39 am - Michi Iljazi

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In July 2008, as the Financial Crisis was reaching a peak point, the United States Government began to consider a federal takeover of Fannie Mae should the housing market further deteriorate. In September of 2008, that’s exactly what happened and in "one of the most sweeping government interventions in private financial markets in decades," the Federal Housing Finance Agency announced that Fannie Mae (and Freddie Mac) would be placed into conservatorship. Shortly after, the mortgage giant received a taxpayer-funded bailout to the tune of $116 billion. With that in mind, TPA joined National Taxpayers Union, Competitive Enterprise Institute, 60 Plus Association, Campaign for Liberty, Campaign to Free America, Center for Freedom and Prosperity, ConservativeHQ.com, Council for Citizens against Government Waste, Less Government, R Street Institute, Taxpayers for Common Sense, Tea Party Nation, and Able Americans signing this coalition letter urging the passage of H.R. 1673, the Enterprise Secondary Reserve Taxpayer Protection and Government Accountability Act of 2015, introduced by Rep. Marsha Blackburn (R-Tenn). This legislation would would prevent another taxpayer bailout of Fannie/Freddie.

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