In May of 1998 we held a conference dedicated to two Government-sponsored Enterprises (GSEs) – Fannie Mae and Freddie Mac. In my statement to that assembly, I noted that both corporations had been enjoying good times, but cautioned that one of the unintended consequences of fat profits over a long period is the tendency of both government and private corporations to start believing in the fantasy of ever-rising profits. GSEs often escape the accountability that Congress or regulatory agencies should impose. Read more.
Newly declared independent Rep. Justin Amash has formally left the GOP Conference and resigned from the House Oversight Committee, according to a letter he sent to Republican leaders on Monday. Read more.