Twenty-six leaders of conservative and free-market groups have signed a letterurging the Senate Banking Committee to reject a bill that would replace Fannie Mae and Freddie Macwith a similar government-sponsored enterprise (GSE).
The proposed Federal Mortgage Insurance Corporation (FMIC) would just be “an expansion of the type of government intervention that fueled the housing crisis in the first place,” the April 22 letter stated.
It was signed by representatives of the Competitive Enterprise Institute (CEI), FreedomWorks, the Club for Growth, and Citizens Against Government Waste, among others. (See Johnson-Crapo Coalition Letter 4-21-2014.pdf)
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