Summary

H.R. 2435: To provide for the repayment of amounts borrowed by Fannie Mae and Freddie Mac from the Treasury of the United States, together with interest, over a... Read More

Status

This bill was introduced on Jun 19, 2013, in a previous session of Congress, but was not passed.

Tags

Date Introduced
Jun 19, 2013

Co-Sponsors

Bill Text

A BILL

To provide for the repayment of amounts borrowed by Fannie Mae and Freddie Mac from the Treasury of the United States, together with interest, over a 30-year period, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Let the GSEs Pay Us Back Act of 2013''.

SEC. 2. REPAYMENT OF TREASURY BORROWING.

The Secretary of the Treasury and each enterprise (acting through the conservator for the enterprise appointed pursuant to section 1367 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4617)) shall enter into an agreement with that modifies the Preferred Stock Purchase Agreement for such enterprise to provide as follows: (1) Termination of dividends.--That after such modification, any Senior Preferred Stock purchased under such Agreement by the Department of the Treasury shall not accrue further dividends. (2) Treatment of enterprise draws on treasury.--That any amounts received, before or after such modification, during a single year by the enterprise as a draw on the commitment made by the Department of the Treasury under such an Agreement, shall be treated as a loan made by the Treasury to the enterprise that-- (A) was originated on the date of the last such draw during such year; (B) has an original principal obligation in an amount equal to the aggregate amount of such draws; (C) has a term to maturity of...

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Sentiment Map

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Nation

71 Supporting
9 Opposing
89% 11%

State: CA

15 Supporting
2 Opposing
88% 12%

District: 1st

0 Supporting
0 Opposing
0% 0%

Popularity Trend

Organizations Supporting

No organizations supporting yet.

Organizations Opposing

No organizations opposing yet.

Users Supporting

I support The Let the GSEs Pay Us Back Act because it follows property law and all of the things that make our country great are dependent on the Rule of Law.

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AL
6
robneiman
AL-6
1 year ago

I support The Let the GSEs Pay Us Back Act because...holding corporations in de facto bankruptcy states fleeces shareholders and irreparably damages investor confidence in a free market system. Lessons on mortgage finance were learned in the Great Recession: the system was devoid of proper regulation and severely undercapitalized. One of those issues (regulation) has been properly adjusted while the other (capitalization) remains compromised by capricious self-dealings precipitated by FHFA and Treasury. Current legislative mortgage reform efforts do nothing more than shift the vast majority of financial burden to the taxpayer and will increase the federal budget by nearly $5 trillion. Please let the GSEs pay back their bailouts as the other TARP bailout too-big-to-fail institutions were allowed. Replete with strongly capitalized emergency funds and strong underwriting, privatized GSEs will once again build the wealth of the middle class and spearhead a true housing recovery.

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LA
2
la_investor
LA-2
1 year ago

I support H.R. 2435 ("To provide for the repayment of amounts borrowed by Fannie Mae and Freddie Mac from") because... It's the right thing to do. Last I checked, the United States of America is not a communist country that takes over a private business without just compensation. Get the Government out of private business and give the company's back to the shareholders.

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NV
4
concernedcitizen#117
NV-4
1 year ago

I support H.R. 2435 ("To provide for the repayment of amounts borrowed by Fannie Mae and Freddie Mac from") because the GSEs have served America well since the Great Depression and in the depths of 2008. We just need to separate them from the Federal Government and re-privatize them. Most importantly, rewarding the TBTF banks with this additional business would lead to larger TBTF and regression in the overhaul of the US banking system. The GSEs offer greater systemic stability while promoting an even playing field between all banks (large to small).

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CA
49
jwnoble3
CA-49
1 year ago

Users Opposing

I oppose H.R. 2435 ("To provide for the repayment of amounts borrowed by Fannie Mae and Freddie Mac from") Phony and Fraudie need to knock knock on mr foreign bankster's door, and then smash that door in when he dares step back on US Soil, You are congress, regulate the damned monetary system! What's stopping you? NSA/Banksters have dirt on you too? I know I don't hear you thinking out loud, "A SNEEK AND PEEK!" don't you think enough's enough yet? All manner of insolent nonsense. Abolish the IRS and income tax, just look at who these people really are Kick the UN treaty circus to the trash. Obey your oath to the US CONSTITUTION!

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CA
6
EXPOSE-CAFR
CA-6
2 years ago

I oppose H.R. 2435 ("To provide for the repayment of amounts borrowed by Fannie Mae and Freddie Mac from") because...the government should of stayed out of Fannie Mae and Freddie Mac

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OK
3
dr.roy
OK-3
2 years ago

Bill Summary

H.R. 2435: To provide for the repayment of amounts borrowed by Fannie Mae and Freddie Mac from the Treasury of the United States, together with interest, over a 30-year period, and for other purposes.

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