Campaign for Liberty Chairman John Tate cosigned a letter opposing Senate legislation that would get rid of Fannie Mae and Freddie Mac....and replace them with a new federal housing agency! This legislation would also create a new "housing trust" fund. This fund would not only further involve government in the housing market but would also serve a "slush fund" for "community groups" to agitate for bigger spending on housing and other welfare state programs.
The fact that this legislation is even been considered shows that many in Washington have failed to learn the lessons of the 2008 bursting of the housing bubble.
This legislation was scheduled to be marked-up today, but it has been "postponed." Campaign for Liberty members may want to call the members of the Senate Banking Committee and let them no they oppose creating new housing programs.
Tags: Campaign for Liberty, Congress, John McCardell, Housing bubble