McCain Warned Congress About Fannie/Freddie In 2006

Click here to see John McCain's (and Senator Elizabeth Dole) letter warning about the danger to the taxpayers of Fannie and Freddie. The letter was written in 2006.

Part of the letter says, "We are concerned that if effective regulatory reform legislation for the housing-finance government sponsored enterprises (GSEs) is not enacted this year, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system, and the economy as a whole."