Ryan, Skeptical Over Bailouts, Worries About ‘Socializing Risk’

Put Rep. Paul Ryan (R-Wis.) down as a skeptic of the government bailouts of mortgage giants Fannie Mae and Freddie Mac.

The ranking Republican on the House Budget Committee said on CNBC Monday that he has long been a critic of the government-sponsored mortgage companies and has tried to limit their activities for years.

“Fannie has — and Freddie have all the benefits of being a private company with none of the risks,” Ryan said. “And so, you know, I’ve been one of these GSE hawks for a long time, and now those chickens are coming home to roost. Now we don’t have many options. We’ve got to get through this rough patch. What I’m worried about is, after the dust settles, what is it all going to look like?”He added: “Are we socializing credit risk in this country? Are we socializing investment risk? Are we going down that path? Are we going down the path of having this debt put on our books, a 50 percent increase in the public debt?”