Chairman of the Senate Committee on Banking, Housing and Urban Affairs Chris Dodd, D-Conn., has issued a statement on the federal government's recently announced plan for troubled government-sponsored enterprises Fannie Mae and Freddie Mac.
‘There are still many unanswered questions about the administration's plan, and Americans deserve to know if this unprecedented proposal will help keep mortgages affordable, stabilize the markets, and protect taxpayer interests,’ Dodd states.
‘Furthermore, we need to understand the circumstances which led the administration to change course,’ he adds. ‘Just weeks ago, Secretary Paulson testified that he thought he would never use this authority – a message he reiterated until very recently.’
Dodd also notes that he plans to invite the ‘architects’ of the plan to appear before the Banking Committee to provide Congress and the public with further information. ‘Americans need to know if this plan will alleviate – not deepen – our current economic problems,’ he explains.
Source: Office Of Sen. Chris Dodd