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White House Sets Forth Plan To Limit Size of Fannie, Freddie

Tuesday, May 24, 2005 @ 08:01 AM EDT Printer Friendly Page  Printer Friendly Page
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Contributed by: John Michael

John Michael Properties

Read more archived articles about Credit and Finance

By Annys Shin
Washington Post Staff Writer
Friday, May 20, 2005; Page E01

The Bush administration has backed legislation that could substantially reduce Fannie Mae and Freddie Mac's investment holdings, part of an accelerating push to shrink the size and influence of the mortgage companies.

Hours after Federal Reserve Chairman Alan Greenspan called for strict limits on the two companies, the administration yesterday delivered its proposal for tighter regulation of Fannie and Freddie to House Financial Services Committee Chairman Michael G. Oxley (R-Ohio).

 
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Oxley's committee is slated on Wednesday to consider legislation that would create a more powerful regulator for Fannie and Freddie.

The Senate is expected to consider a similar bill in late June, part of a legislative backlash to accounting scandals at the two companies.

See more on this story at:
http://www.washingtonpost.com/wp-dyn/content/article/2005/05/19/AR2005051901782.html



Note: John Michael is the author of many guides that can help you become more successful as an investor. See http://www.thecreativeinvestor.com/ChanPart-JohnMichael.html


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