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Tuesday, Apr 24th

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You are here News Economy Fannie & Freddie: Buying friends in D.C.

Fannie & Freddie: Buying friends in D.C.

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When it came to buying influence in Washington, Freddie Mac and Fannie Mae were among Corporate America's biggest spenders.

The two mortgage giants paid $174 million to lobbyists over the past ten years to ensure the political climate would remain friendly to growing the mortgage business - even as the housing bubble began showing signs of bursting, according to a report by the Center for Responsive Politics, a watchdog group.

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