Congress Must Stop Using Fannie and Freddie as Piggy Banks

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.

This article was originally published in American Banker.