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Soon we will mark the fifth anniversary of the financial crisis that wrecked our economy, left millions of Americans unemployed and from which we have yet to recover. From a public policy perspective, the great tragedy of the financial crisis was not that Washington failed to prevent it, but that Washington helped lead us into it. The crisis largely started with a noble intention: Every American should own a home. The result was that well-meaning but misguided policies — principally the “Affordable Housing Goals” of Fannie Mae and Freddie Mac — either strong-armed or enticed financial institutions into loaning money to people to buy homes they sadly couldn’t afford. In fact, over 70 percent of the nontraditional mortgages that led to the crisis were backed by Fannie, Freddie and other taxpayer-subsidized programs.
WASHINGTON – U.S. Congressman Jeb Hensarling (TX-05) released the following statement commemorating Memorial Day:
Two years ago, I was one of 43 members of Congress appointed to the conference committee for the Dodd-Frank financial-reform bill. Along with others, I fought against the legislation and lost.After an all-night session, Democrats (who then held the House...
“It’s time to enact fundamental reform before these companies go from ‘too big to fail’ to ‘too late to fix.’”
To View Congressman Jeb Hensarling’s Comments at Today’s HearingGo to YouTubehttp://www.youtube.com/watch?v=FMyRERyAhcMCongressman Jeb Hensarling (TX-05) is the top Republican on the House Financial Services Subcommittee on Financial Institutions and Consumer Credit.  A former member of the Congressional Oversight Panel (Panel) for...
This week in Washington, after 18 months of delay, the Obama administration and Democrats in Congress have come clean on their plans, or lack thereof, to address bailout-dependent Fannie Mae and Freddie Mac.After refusing to even consider reform of these...
By: Rep. Jeb Hensarling and Rep. Scott GarrettOpEd Contributors August 17, 2010We all knew it would happen, eventually.  After 18 months of delay the Obama administration and Democrats in Congress have come clean on their plans, or lack thereof, to address...
By: Mark TapscottEditorial Page Editor08/15/10 4:15 PM EDTLegislation has been introduced by Rep. Jeb Hensarling, R-Texas., to end the government's guarantee of troubled mortgages owned by Fannie Mae and Freddie Mac. There is talk that President Obama will unveil at least...
This week in Washington I spent much of my time, in committee and on the House floor, battling the federal government takeover of our financial industry.  While I have worked hard for reforms that will lead to smarter regulation of...
WASHINGTON, DC — Congressman Jeb Hensarling today announced that his proposal to end the bailout of Fannie Mae and Freddie Mac has won the House GOP YouCut vote and would be up for a vote on the House Floor as early...