Issa Sponsors Bi-Partisan Legislation to Immediately Appoint Inspector General for FHFA

January 14, 2010

WASHINGTON. D.C. – House Committee on Oversight and Government Reform Ranking Member Darrell Issa (R-CA) joined with Reps. Dennis Moore (D-KS), Judy Biggert (R-IL) and Chairman Edolphus Towns (D-NY) to introduce H.R. 4450, the Federal Housing Finance Agency Inspector General Technical Corrections Act of 2009, which.”

In November of 2009, the Huffington Post reported that the FHFA, which has jurisdiction over Fannie Mae and Freddie Mac, had been operating without an Inspector General and that the Office of Legal Counsel (OLC) had stripped the FHFA’s acting Inspector General, Edward Kelly, of his authority as a result of a request from FHFA’s General Counsel Alfred M. Pollard challenging Kelly’s authority.

“Fannie and Freddie have become the largest taxpayer bailout in American history it defies common sense to leave them without proper oversight while the federal government keeps giving them unlimited access to its ATM card,” Issa said.  “This bipartisan bill should be voted on as soon as humanly possible so that we can put in place some mechanism of accountability and independent oversight at the FHFA because at this moment – there is none.”

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