Mnuchin Says He Doesn’t Back Recap and Release of Fannie-Freddie
- Treasury nominee says he won’t commit to GSE legislation
- Says government should find bipartisan solution for housing
Treasury Pick Mnuchin Faces Heat at Senate Hearing
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Steven Mnuchin, Donald Trump’s nominee to be the next Treasury secretary, said comments he made last year on Fannie Mae and Freddie Mac were not meant to endorse a view that the government should quickly recapitalize the companies and then sell its stakes in them.
“My comments were never that there should be recap and release,” Mnuchin said Thursday during his confirmation hearing before the Senate Finance Committee. “I believe that these are very important entities to provide the necessary liquidity for housing finance.”