WASHINGTON — If there was any chance that lawmakers might eventually seek to return Fannie Mae and Freddie Mac to their hybrid public-private status, that idea was dealt a death blow Friday during a hearing of the Financial Crisis Inquiry Commission.

The hearing, which featured Fannie's former executives and regulators, described a company that took unnecessary risks in an attempt to chase profits and preserve market share, while lobbying Congress to keep its regulator weak and ineffective.

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