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Mike Lee on Fannie and Freddie

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Published on May 28, 2010

Mike Lee answered questions at an event in Layton, Utah, on May 27th, 2010. The sound isn't super fantastic, as I was filming with my Samsung S730 personal digital camera. You may need to adjust your volume. I have included a transcript of the video below.

Question: What is your view of Fannie and Freddie's future role in our country?

I get nervous every time I hear someone talk about public-private partnerships. I don't really know what that means, other than someone wants to take our money, money from our wallets that they take essentially at the point of a gun, because that's why we pay our taxes. Because if we don't pay our taxes, eventually people with guns will come to your house. I know that not from experience, cause I've never tried it, but I'm told, I have it on good authority that's the case, but I digress. They take and give it to a corporation and say "There now, go and do good things with it and while you're at it, you can do some things that will sort of help our government." I don't think that's a good idea. My personal copy of the constitution, the one I read--maybe yours is different, I doubt it—but it does not give congress the power to redistribute wealth to anyone, whether it's groups of Americans, foreign countries like Greece, auto companies like GM, financial companies like Citigroup, or these public-private partnership type corporations like Fannie and Freddie, so we shouldn't be doing that. If those companies want to exist, let them survive on their own. They shouldn't do so with the financial umbilical cord that we're paying for.

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