Wednesday, February 03, 2010

Corker decries lack of Feds' transparency

U.S. Sen. Bob Corker, R-Chattanooga, yesterday issued a statement calling for the liabilities of Fannie Mae and Freddie Mac to be reflected on Treasury's books, and called for greater understanding and transparency in reforming the two agencies. Earlier this week, Corker challenged proposed prohibition of large commercial banks' conducting “proprietary trading“ for their own portfolios. Contrary to the views of the Obama Administration and former Fed Reserve Chief Paul Volcker, Corker holds that such speculative trading contributed nothing to the banking collapse. WPLN reported it.

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