The legislation, introduced by Rep. Steve Pearce, requires the Treasury Department to approve any new debt issuance by the GSEs. If Treasury approves a debt issuance, it must explain and justify its decision to Congress and the FHFA within seven days. The legislation limits the amount of GSE risk taking.
H.R. 1225 was approved on a vote of 18-0-1 by the Capital Markets… Read more »
The Capital Markets and Government Sponsored Enterprises Subcommittee approved eight bills on Wednesday that provide for immediate reforms to protect taxpayers by fundamentally reforming Fannie Mae and Freddie Mac. The bills include reforms that suspend lavish compensation for executives at Fannie Mae and Freddie Mac, eliminate the affordable housing goals, increase the guarantee fees,… Read more »
Letters to the Editor
Putting the Spike in Fannie and Fred
6 April 2011
The Wall Street Journal
Regarding your editorial "Blinking on Fannie and Fred" (March 31): The need to end the taxpayer-funded bailout of Fannie Mae and Freddie Mac is an urgent matter. That's why, on March 17, we introduced H.R. 1182, which completely removes Fannie and Freddie from the permanent… Read more »
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 »
