“It’s a 1,400-page bill that does not address the core issues of what put us in this situation,” Corker said. “But no crisis goes wasted around here in Washington,” he added.
Corker said he thinks there has to be follow-up legislation. “But this (Obama) administration wants to do everything they can from keeping the public focused on that,” Corker said.
“(Fannie and Freddie) are 90 percent of the loan market today. These are still the enablers,” Corker said, who added the issue has to be solved some time. “We’ll deal with it, but it will be way beyond the time that we should.”
The government bailed out Fannie and Freddie in the fall of 2008 right before the financial crisis began.