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...
Former Lobbyist Jack Abramoff argues funds are dwindling for political influence and the industry is having less impact in D.C.
Rep. Ed Royce explains why the house is looking to stop bonuses and reduce pay at Fannie Mae and Freddie Mac.
By Kim DixonMore American companies are bending to shareholder pressure to reveal their spending to sway political campaigns despite court decisions allowing unfette...
Intermedia Partners' Leo Hindery discusses why the former Apple CEO said the president should be concerned about his political future.
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.
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....
FBN’s Charlie Gasparino on all the top Wall Street executives who are not attending Obama’s fundraiser.
FBN’s Charlie Gasparino on why Nasdaq CEO Robert Greifeld is scrambling to find other options after the failed bid for the NYSE.
Sen. Kay Bailey Hutchison, (R-Texas), weighs in on government debt, the death of Usama Bin Laden, and energy prices.
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...
Fmr. AIG CEO Maurice "Hank" Greenberg on why the government bailouts were handled badly and state-run companies can’t run well.
WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner said on Tuesday that future mortgage costs likely will be "modestly higher" after reforms are completed to...
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.
AEI Resident Fellow Ed Pinto and Fmr. Fannie Mae Exec. VP Rick Sharga on new rules surrounding mortgages and homeownership.
FBN’s Charlie Gasparino on why some Wall Street executives are supporting Romney for President.
FBN's Charlie Gasparino says the Dodd-Frank law hearings will take place in July and focus on regulation failures.
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.
FBN's Peter Barnes on consumer and public interest advocates considering launching a new attack on oil speculators.
Author Mike Reagan on California’s efforts to raise tax revenue.