TBA Law Blog

Posted by: Brittany Sims on Aug 7, 2013

President Barack Obama has endorsed a bipartisan Senate effort Tennessee Republican Sen. Bob Corker helped craft that seeks to strengthen America’s housing finance system and shield taxpayers from bearing the brunt of future economic meltdowns. Some five years after the mortgage crisis struck government-sponsored enterprises Fannie Mae and Freddie Mac and required a $200 billion federal bailout, Obama said it’s time to reduce government’s risk in any future crisis. Corker told the Chattanooga Times Free Press that it gives him "hope that we actually deal with Fannie and Freddie before the political season begins this January and makes it very difficult for anything to occur.”