Senate Bill Would Sharply Cut Fannie Mae and Freddie Mac Assets

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00029538-senate-bill-would-sharply-cut-fannie-mae-/

A bill in the U.S. Senate aimed at tightening oversight of Fannie Mae and Freddie Mac would sharply reduce the companies’ massive mortgage portfolios, forcing the two government-sponsored enterprises to sell off most of their assets held solely for investment purposes, according to a summary of the bill released Friday.

The legislation, sponsored by Senate Banking Committee Chairman Richard Shelby, R-Ala., largely embraces proposals by the Bush administration and the Federal Reserve that would restrict the types of assets the GSEs could own.

For this complete story, please visit Senate Bill Would Sharply Cut Fannie Mae and Freddie Mac Assets.

Senate Bill Would Sharply Cut Fannie Mae and Freddie Mac Assets

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