Aug 20 - Below is a statement by Frank Keating, American Bankers Association president and CEO.
“ABA applauds the Treasury’s steps to more quickly wind down Fannie Mae and Freddie Mac in a responsible way. Today’s changes are consistent with FHFA’s strategic plan and ABA’s reform priority of a reduced government presence in the housing market.
“The taxpayers’ investment in the GSEs was essential to stabilizing the housing market and laying the foundation for recovery. Much more work needs to be done to reform the secondary market, but today's announcement helps move this process forward and ensure the taxpayers’ investment is ultimately repaid.”