Conservative Group Opposes Part of Shelby Bill
Politico quotes CEI`s John Berlau on Shelby Bill:
Competitive Enterprise Institute’s John Berlau writes: “Last year, an overhaul of Fannie Mae and Freddie Mac called Johnson-Crapo — named after then Senate Banking Committee Chairman Tim Johnson (D-S.D.) and Ranking Member Mike Crapo (R-Idaho) — went down in flames after observers found that the bill was not reform, but a massive expansion of the government’s role in housing.
“One of the most vocal opponents of Johnson-Crapo was Sen. Richard Shelby (R-Ala) … Though the bill narrowly passed the committee, support for the bill died on the vine and it was never even brought to the Senate floor for a vote. … Shelby has just introduced the “Financial Regulatory Improvement Act of 2015” … What’s in the bill?! None other than a section that essentially does much of what Johnson-Crapo would have done in expanding the government’s housing role and exposing the taxpayer to more risk!”