Neugebauer Investigates Legal Fees

With Republicans in charge of the House, Congressman Randy Neugebauer is now the chairman of the oversight subcommittee of the House Financial Services Committee, which is investigating legal fees paid by Fannie Mae and Freddie Mac for the defense of officials who have led those organizations.

According to Neugebauer, more than $160-million of the taxpayer’s money has been spent for securities-related lawsuits and indemnification agreements for Fannie Mae and Freddie Mac executives.

In a news release, Neugebauer said, “This drain on the American taxpayer must be plugged as quickly as possible.”