Tags: fannie mae | freddie mac | michael barr

Treasury's Barr to Testify on Fannie, Freddie

Friday, 10 Sep 2010 02:23 PM

Michael Barr, assistant treasury secretary for financial institutions, and Edward DeMarco, acting director of the Federal Housing Finance Agency will testify on Capitol Hill next week on the future of Fannie Mae (and Freddie Mac.

Barr and DeMarco will appear before the House Financial Services Subcommittee on Capital Markets on September 15.

Panel Chairman Paul Kanjorski said they will "examine the primary causes of the financial losses for Fannie Mae and Freddie Mac, as well as the progress made during the last two years in stabilizing our mortgage markets and ensuring the continued availability of reasonably priced loans."

"The hearing will also explore the steps being taken to limit future red ink," the Pennsylvania Democrat said. The two firms have tapped about $150 billion from the Treasury since they were taken over by the government two years ago.

© 2015 Thomson/Reuters. All rights reserved.

1Like our page

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved