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Fannie, Freddie Reform Bill Introduced In Senate

A bill aiming to spur substantive reform of the government's role in housing finance was introduced Thursday by a bipartisan group of senators. The "Jumpstart GSE Reform Act" would prevent Congress from using any increase in certain fees charged by mortgage buyers Fannie Mae and Freddie Mac to offset other government spending. In addition, the U.S. Department of the Treasury would be prohibited from selling its preferred shares in Fannie and Freddie without an OK from Congress and structural housing finance reform. Critics say that Congress and the administration have been too slow on reforming Fannie and Freddie, with many concerned about partisan discord preventing meaningful progress in the near term. The GSE bill, backed by Democrats and Republicans, aims to jump-start the reform process. "We know our housing finance system is not sustainable in its current form, and this legislation will keep us on a path to accomplish real reforms. We believe that as we transition Fannie and Fred...

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  1. Lobbyists Feeling the Pinch

    Former Lobbyist Jack Abramoff argues funds are dwindling for political influence and the industry is having less impact in D.C.

  2. House Committee Votes to Stop Fannie and Freddie Bonuses

    Rep. Ed Royce explains why the house is looking to stop bonuses and reduce pay at Fannie Mae and Freddie Mac.

  3. More companies shed light on political spending

    By Kim DixonMore American companies are bending to shareholder pressure to reveal their spending to sway political campaigns despite court decisions allowing unfette...

  4. Jobs' Warning to President Obama

    Intermedia Partners' Leo Hindery discusses why the former Apple CEO said the president should be concerned about his political future.

  5. Gasparino: House to Hold Hearings on Volcker Rule

    FBN's Charlie Gasparino on the Financial Services Committee's plans to hold hearings on the Volcker Rule's impact on Wall Street in November.

  6. Double-Dip Scare

    The latest GDP numbers show the U.S. is in a cyclical downturn.And now a double-dip scare is upon us, as first quarter results were revised down to stall speed of 0....

  7. Where are the Wall Street Execs at Obama’s Fundraiser?

    FBN’s Charlie Gasparino on all the top Wall Street executives who are not attending Obama’s fundraiser.

  8. Nasdaq CEO Looking for Options After NYSE Bid Fails

    FBN’s Charlie Gasparino on why Nasdaq CEO Robert Greifeld is scrambling to find other options after the failed bid for the NYSE.

  9. Sen. Kay Bailey Hutchison on Debt, Bin Laden

    Sen. Kay Bailey Hutchison, (R-Texas), weighs in on government debt, the death of Usama Bin Laden, and energy prices.

  10. Fed's Lacker says must let ailing big firms fail

    By Pedro Nicolaci da CostaROANOKE, Virginia (Reuters) - Large financial firms should be allowed to fail or they will continue to take excess risks that lead to crise...

  11. Fmr. AIG CEO on the Government's Handling of Bailouts

    Fmr. AIG CEO Maurice "Hank" Greenberg on why the government bailouts were handled badly and state-run companies can’t run well.

  12. Geithner: mortgage costs to rise with reform

    WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Tuesday that future mortgage costs likely will be "modestly higher" after reforms are completed to...

  1. Why Can’t Washington Balance the Checkbook?

    Former U.S. Comptroller General David Walker says it is time for a state-led constitutional convention that will reform the major problems with today’s federal government.

  2. New Rules to Curb Risky Mortgages

    AEI Resident Fellow Ed Pinto and Fmr. Fannie Mae Exec. VP Rick Sharga on new rules surrounding mortgages and homeownership.

  3. Wall Street Throwing Support Behind Romney?

    FBN’s Charlie Gasparino on why some Wall Street executives are supporting Romney for President.

  4. Gasparino: House Republicans Plan Hearings on Dodd-Frank

    FBN's Charlie Gasparino says the Dodd-Frank law hearings will take place in July and focus on regulation failures.

  5. Why Obama is Better for the Economy

    The Mellman Group CEO Mark Mellman weighs in on Obama’s influence on the economy and how the Supreme Court ruling against the SEIU impacts Democrats.

  6. Advocates Consider Attack on Oil Speculators

    FBN's Peter Barnes on consumer and public interest advocates considering launching a new attack on oil speculators.

  7. Golden State Lowers Estimates on Tax Revenue

    Author Mike Reagan on California’s efforts to raise tax revenue.

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