THE COLUMBUS DISPATCH
BY JESSICA WEHRMAN & JACK TORRY

Rep. Steve Stivers, R-Columbus, saw a bill he’s introduced regarding government bailouts of Fannie Mae and Freddie Mac pass through a House subcommittee last week.

The bill is aimed at ensuring that the Fannie and Freddie model will not automatically be replicated if either program is placed in receivership. If that happens, his bill ensures that their Congressional Charter may be revoked.

Under current law, if Fannie or Freddie is put into a federal government receivership, by law a new company is created with a government charter and private stockholders, recreating the failed model, Stivers said.

“This is an important step to prevent future bailouts,” he said