Why the Johnson and Crapo "Taxpayer Protection Act" will not protect taxpayers
On March 16, Senators Johnson and Crapo released a discussion draft for replacing Fannie Mae and Freddie Mac. This post first appeared on The Hill's Congress Blog on March 24, 2014:
The draft bill released on Sunday, March 16 by Senate Banking Committee Chairman Tim Johnson (D-S.D.) and Ranking Member Mike Crapo (R-Idaho) will not protect taxpayers from future bailouts.