Fwd: Enterprise Update: No-More-Bailouts Bill Springs a Leak: Fannie and Freddie Ask for More

Enterprise Update Eliminating barriers to enterprise and innovation Recent Updates Fannie and Freddie Failure Forever FCC on Broadband Regulation: "No, Wait, It Is a Duck After All" Video of the Week: Pennsylvania Department of Revenue's Ode to Orwell How Smart Growth Policies Helped Paulson and Goldman Sachs Short Housing Labor Secretary Rewards Former Staff With Big Raises Heritage Employment Report: Labor Market Springs Ahead in April Featured Research No-More-Bailouts Bill Springs a Leak: Fannie and Freddie Ask for More By James Gattuso Supporters of Sen. Chris Dodd's financial regulation bill say it will end financial bailouts. In fact, the Senate — anxious to reassure Americans on that fact — even added an amendment last week with a stated purpose "[t]o prohibit taxpayers from ever having to bail out the financial sector." But someone forgot to tell the folks across town at Freddie Mac and Fannie Mae. Freddie last week announced it had lost $8 billion in the first quarter of the year, and would be asking for another $10.6 in taxpayer help. And today, its twin Fannie announced a $11.5 billion loss, and asked for a further $8.4 billion in aid from taxpayers. That's in addition to the nearly $145 billion in aid to Fannie and Freddie have already received. >> Click here to read the full report For more information, visit Heritage's Enterprise and Free Markets webpage, which features research, commentary, blog posts, charts and additional policy resources. Red Tape Rising The regulatory burden on Americans continued to surge during 2009, with record increases in costs thanks to both the Bush and Obama Administrations. Given ongoing regulatory initiatives at several agencies, it is very likely that this surge will continue. Click here for more information About The Heritage Foundation Founded in 1973, The Heritage Foundation is a research and educational institute -- a think tank -- whose mission is to formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense. The Heritage Foundation | 214 Massachusetts Ave NE, Washington, DC 20002 | 202.546.4400