Corker: Omnibus protects Fannie, Freddie from 'Wall Street hedge funds'

Sen. Bob Corker took to the Senate floor Thursday afternoon to push for passage of a measure that would prevent the Obama Treasury Department from selling its stake in the bailed-out mortgage giants Fannie Mae and Freddie Mac and to call out investors who have bought shares in the businesses in the hopes that they would be released by the government.

"These wealthy hedge funds made a bet that Congress would fail to do its job, structural reform efforts would fail, and Fannie and Freddie would be recapitalized and released," the Tennessee Republican said.

In that scenario, he said, the government-sponsored enterprises "would fall back into the system of private gains and public losses, lining the pockets of multimillionaires while leaving taxpayers on the hook."

A measure authored by Corker that would prevent the Treasury from selling its stake in Fannie and Freddie without Congress' approval was included in the omnibus spending bill that leaders hope to pass this week.

Read more on WashingtonExaminer.com