Condemning the Tragic Attacks in Paris

The Senate on Monday unanimously passed a resolution authored by Senators Bob Corker and Ben Cardin, the chairman and ranking member of the Senate Foreign Relations Committee, condemning the recent terrorist attacks in Paris. Cosponsored by all 100 members of the Senate, the resolution also offered condolences to the victims and their families, resolve to support the people of France, and a pledge to defend democracy and stand in solidarity with the country of France and all our allies in the face of this horrific attack on freedom and liberty. The full text of the resolution is available online here.

On Tuesday, Senator Corker joined his colleagues in presenting a condolence book to the Ambassador of France, Gerard Araud, expressing thoughts and prayers to the people of France.

Corker in Paris Says U.S. Leadership Critical in Fight Against ISIS

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In an interview today on CNN, Senator Corker, chairman of the Senate Foreign Relations Committee, said the U.S. must make a decision to lead in the fight against ISIS and warned that if the Obama administration continues its strategy of containment in Syria, the world will continue to see unrest and more terrorist activities.

“As long as our strategy in Syria is containment, more and more and more of [these terrorist activities are] going to occur,” said Corker. “I think people are waking up to that… I think everyone understands that collectively we’ve got to do something far more robust.”

Corker continued, “I think the first decision that has to be made is: Are we, as the United States, going to take part, are we going to lead a coalition to actually end [ISIS’s] existence? Or are we going to just deal with the containment [strategy] that we have been doing? It is really an executive decision first. And then once that decision is made, it is collecting from our great military leaders the best way to go about doing that. We as a nation really haven’t made the decision yet, in my opinion, that we want to destroy them. It has been a decision to contain.”

Asked if U.S. leadership is critical, Corker added, “Absolutely… With something like this, the only way for it to be successful is with U.S. leadership.”

On his way to the Middle East, Senator Corker stopped in Paris on Friday to discuss the response to the recent terrorist attacks and U.S. cooperation with France in the fight against ISIS. He received a briefing at the U.S. embassy, met with FBI and French officials, and presented a wreath at one of the sites of the attacks, the Le Carillon restaurant, to commemorate the victims. In the Middle East, he will meet with U.S. and foreign officials about regional security and stability issues, especially terrorism.

Prompting Action on Housing Finance Reform

In an effort to spur substantive and structural housing finance reform, Senators Bob Corker and Mark Warner, members of the Senate Banking Committee, this week offered the Jumpstart GSE Reform Act as an amendment to H.R. 2577, the Transportation, Housing and Urban Development, and Related Agencies Appropriations Act.

The amendment would prohibit the sale of Treasury-owned senior preferred shares in government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac without congressional approval and also prohibit any increase in the guarantee fee – which is required to be charged by the GSEs – from offsetting other government spending.

“Although the FHFA is taking important steps to de-risk Fannie Mae and Freddie Mac, taxpayers will continue to be on the hook for a future bailout if Congress does not produce legislation to transform our housing finance system,” said Corker. “There is overwhelming consensus that congressional action is needed, and it is hard to imagine that anyone would ever want to harm taxpayers and return to the failed model of private gains and public losses. While comprehensive reform is my preference, this amendment will ensure the future of Fannie and Freddie will be determined by Congress.”

In 2008, Fannie Mae and Freddie Mac were taken into government conservatorship and given a $188 billion capital injection from taxpayers to stay afloat. As a result of the bailout, the U.S. Department of Treasury purchased senior preferred stock in the GSEs and was given sole discretion to sell or otherwise dispose of those shares.

There is broad bipartisan, bicameral consensus that the status of the GSEs prior to conservatorship was a failure and that the best way to prevent another bailout and protect taxpayers is through comprehensive housing finance reform.