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From the
U.S. Congress
GSE Reform
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Summary
Government Sponsored Enterprises (GSE)s such as Fannie Mae and Freddie Mac need more oversight.Background
Concerns have been raised the the GSEs have become so big that they could be a threat to the financial markets if they had trouble. Recent accounting problems at Freddie have increased this concern.Details
The current OFHEO supports legislation that creates an independant, Bank Regulator-Like Agency with a mission to support both housing and Safety and Soundness of the financial markets. This entity would have power to regulate the Capital Requirements and Portfolio of the GSEs./1/Political Context
Previous GSE reform legislation was considered but did not pass the 109th congress. Rep. Barney Frank has said he will propose legislation in the 110th./2/Additional Links
/1/ OFHEO "GSE Reform, a priority for 2007"/2/ Gordon, Marcy "Fannie Mae, Freddie Mac still have huge financial problems, regulator says" Associated Press 1/18/07
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