Release Date: Sep 08, 2008Contact: 888-249-NEWS
U.S. Chamber of Commerce Issues Statement on Government Action on Fannie Mae, Freddie Mac
WASHINGTON, D.C.—The U.S. Chamber of Commerce President and CEO Tom Donohue issued the following statement in response to the Department of Treasury's steps to shore up America's mortgage, housing, and financial markets:
"During this challenging time in our financial markets, the steps taken over the weekend by Secretary Paulson will help to restore confidence and bring back certainty to the mortgage industry and housing sector.
"Treasury's support for Fannie Mae and Freddie Mac is an unfortunate, but necessary decision that will provide greater certainty to markets while ensuring Americans will continue to have access to affordable mortgage loans moving forward.
"We look forward to working with Congress and both the current and next administration on the long-term effort of modernizing our regulatory system."
The U.S. Chamber is the world's largest business federation representing more than 3 million businesses and organizations of every size, sector, and region.
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