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Congress Must Stop Using Fannie and Freddie as Piggy Banks

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When lawmakers needed $1.5 billion to pay for an expanded student visa program last week, they turned to an unexpected funding source: mortgage giants Fannie Mae and Freddie Mac.

The proposed law, which passed the House last Friday but has stalled in the Senate, is the latest in a series of bills that tap the government-backed mortgage financiers to cover the cost of new government programs.

Read more here.

This article was originally published in American Banker.

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