Searchlight, NV—Senate Majority Leader Harry Reid made the following statement today in response to news of the potential government intervention into Fannie Mae and Freddie Mac:
“Fannie Mae and Freddie Mac play critical roles in making ownership of an affordable home a reality for millions of Americans. They are also critical to well-functioning global financial markets. While I have spoken to Secretary Paulson, I look forward to reviewing the details of the Bush Administration’s plan to see that it both helps keep these important entities functioning smoothly and protects the American taxpayer.
“This situation is yet another stark reminder that we live in difficult economic times and we must do more to help struggling families reach the American Dream. That is why I urge President Bush, Senator McCain and other Republicans to work with Democrats in the immediate days ahead to enact an economic recovery package.”