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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


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.

Click 'read more' below to read the full letter

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Small businesses are undoubtedly the backbone of our economy. We would all agree that more must be done to foster their growth. However, when misguided government efforts to do so lack the appropriate oversight and rules, a few bad acting corporate entities will exploit flawed policies and line their pockets with taxpayer-funded dollars.

Ergenomics 101

Satellite provider Dish Network exemplified this when it took advantage of a program designed to help small business win coveted spectrum in a recent auction held by the Federal Communications Commission (FCC). Dish has an 85-percent financial interest in Northstar Wireless and SNR Wireless, two companies that didn't exist until a few months before the auction. Because they have little to no revenue, they qualified as small businesses under the FCC's Designated Entity (DE) program and got a 25-percent bidding credit. They outbid major competitors on countless occasions, and Dish ultimately won about half of the licenses up for grabs – more than $13 billion worth, with a more than $3 billion discount, courtesy of taxpayers. Only AT&T spent more



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