WASHINGTON - Congressman Paul E. Kanjorski (PA-11) provided the below statement about the Associated Press article that recently appeared about Freddie Mac and Members of Congress.

"As early as 2000, I have consistently and vocally promoted a strong, independent, world-class regulator for Freddie Mac and Fannie Mae with the resources needed to get the job done.  Unfortunately, President Bush, with the support of some Republican Members of Congress, obstructed efforts to improve the regulation of these government-sponsored enterprises.  In 2005, with my strong support, the House Financial Services Committee, on a bipartisan basis, passed a comprehensive reform bill.  A short time later, the bill passed the House, but this legislation died in the Senate in part because of the lack of support in the White House.  Mike Oxley (R-OH), the Republican Chairman of the House Financial Services Committee at the time blamed the White House for failing to pass the bill and causing the current crisis with Fannie and Freddie, stating ‘What did we get from the White House? We got a one-finger salute.'  When the Democrats regained control of Congress in 2006, we made regulation of Freddie Mac and Fannie Mae a priority and passed a regulatory reform bill in May 2007, which the Senate passed and the President finally signed a year later.  I only wish that the President had heeded warnings earlier about the need to act.

"Finally, there are strict rules prohibiting Members of Congress from receiving most gifts.  I have never violated those rules.  The ticket to attend the opening game of the Washington Nationals was valued at less than $50, which was the gift limit at that time.  The Associated Press article misled its readers by refusing to include this information in the piece.  Furthermore, it is ludicrous to suggest that my positions on policy could be influenced by any factors other than the merits of the policy."

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