Sound From Representative Virginia Foxx's Questioning Can Be Heard in it's Entirety on this Story.
Representative Virginia Foxx verbally ripped into Fannie Mae and Freddie Mac executives on Tuesday at a Congressional hearing in Washington.
Foxx asked them to account for the failures of the organizations they led and the costs carried by average Americans as a result of the government takeover of Fannie and Freddie.
According to yesterday’s hearings, more than 40 percent of Fannie and Freddie's loans are "junk loans" for a total of $4.63 trillion in potentially bad debt. With the federal government's takeover of these lenders, taxpayers are ultimately on the hook for the cost of these bad loans.
