Rep. Henry Waxman rarely does anything that pleases House Republicans, but they’ll like this one – the inquisitive chairman is finally going after Fannie Mae and Freddie Mac.
Waxman, the chairman of the House Oversight and Government Reform Committee, announced a hearing on the mortgage giants for Nov. 20, during an expected lame-duck session of Congress. This comes after the election, of course, so Republicans won’t get a chance to grandstand during the hearing and blame Democrats for the economic meltdown.
Over the past month, Republicans have criticized Waxman for organizing a series of investigative hearings on the causes of the financial crisis, without examining alleged improprieties and Fannie and Freddie.
The hearing will “examine the financial collapse of Fannie Mae and Freddie Mac, their takeover by the federal government, and their role in the ongoing financial crisis,” according to a press release.
Waxman’s office said the chairman has already requested documents from the two mortgage companies.
Waxman has invited former Freddie Mac CEOs Leland Brendsel and Richard Syron to testify, as well as former Fannie Mae CEOs Daniel Mudd and Franklin Raines.