Democrats on the Financial Services Committee, who blocked Republican efforts to reform Fannie Mae and Freddie Mac during debate over financial regulatory reform in 2009 and 2010, on Tuesday used delaying tactics and obstructionist parliamentary maneuvers in an attempt to stall progress on eight Republican bills to bring needed reforms to the bailed out mortgage giants.
The… Read more »
WASHINGTON: Financial Services Committee Chairman Spencer Bachus released the following information regarding the pay of Fannie Mae and Freddie Mac executives. Later today, the Capital Markets and Government Sponsored Enterprises Subcommittee will vote on a bill introduced by Chairman Bachus to suspend the compensation packages for executives of Fannie Mae and Freddie Mac. H.R. 1221, the… Read more »
A report detailing the multi-million dollar compensation paid to top executives of bailed out mortgage giants Fannie Mae and Freddie Mac should give Financial Services Committee Chairman Spencer Bachus’s bill to suspend these taxpayer-funded salaries a boost.
Chairman Bachus re-introduced legislation to suspend the compensation packages for executives of Fannie Mae and Freddie… Read more »
Financial Services Committee Chairman Spencer Bachus made the following statement today during the Capital Markets Subcommittee hearing on legislative proposals to reform Fannie Mae and Freddie Mac.
“As recent statistics show, our housing markets remain very fragile. Housing is a tremendously important part of our economy and of consumer spending. We cannot revive the… Read more »
Financial Services Committee Chairman Spencer Bachus and Committee Vice-Chairman Jeb Hensarling on Thursday joined Senator John McCain and Senator Orrin Hatch to discuss the introduction of the Government Sponsored Enterprise Bailout Elimination and Taxpayer Protection Act in the Senate.
The bill, which is the Senate companion version of House legislation introduced by… Read more »
The Capital Markets and Government Sponsored Enterprises Subcommittee, chaired by Rep. Scott Garrett, will convene for a hearing to examine eight legislative proposals that provide immediate reforms to Fannie Mae and Freddie Mac. At a press conference yesterday, Financial Services Committee Members announced the introduction of the eight bills that will be subject of the Subcommittee… Read more »
Financial Services Committee Chairman Spencer Bachus released the following statement about the proposals introduced today by several Republicans on the Committee to reform Fannie Mae and Freddie Mac:
“In our Pledge to America, House Republicans said: ‘We will reform Fannie Mae and Freddie Mac by ending their government takeover, shrinking their portfolios, and establishing… Read more »
By Phil Mattingly and Lorraine Woellert
Bloomberg News
U.S. House Republicans proposed legislation that would begin reducing the influence of government-run mortgage companies Fannie Mae and Freddie Mac.
The measures would wind down the firms in phases as policy makers work on a broader overhaul of the mortgage market. The proposed legislation would cut the value of the companies’… Read more »
Financial Services Committee Chairman Spencer Bachus issued the following statement today regarding reports that financial regulators have floated a so-called “cash for keys” program that will reward some borrowers who default on their mortgages with a $20,000 government check. The “cash for keys” program would reportedly be paid for, in part, by contributions from Fannie Mae and Freddie… Read more »
Capital Markets Subcommittee Chairman Scott Garrett announced the Subcommittee will hold a legislative hearing on proposals that promote job creation on Wednesday, March 16 at 2 p.m. in room 2128 Rayburn.
Subcommittee Chairman Garrett said, “Far too much of the Dodd-Frank Act was passed for political purposes, without giving enough thought to what the consequences would be… Read more »
