While Congress works on financial reform legislation, one the leading causes of the ongoing financial crisis remains unaddressed and is getting worse. In recent days, government-subsidized mortgage giants Fannie Mae and Freddie Mac posted massive first quarter losses and are requesting billions more in additional taxpayer bailouts. So why won’t Congress and the president demand changes in Fannie and Freddie? Will this change the current financial reform debate? How slow is President Obama in addressing the mortgage crisis? We ask New Jersey Rep. Scott Garrett, a member of the House Financial Services Committee.
