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Old 08-21-2013, 09:41 AM   #15

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Dems rip new Fannie Mae regulatory measure

July 28, 2005

White House efforts to trim the portfolios of mortgage lenders Fannie Mae and Freddie Mac drew criticism from the Senate's top Democrat.


The measure is seen as a way to trim the portfolios of the entities, which have come under attack from Federal Reserve Chairman Alan Greenspan among others, as bloated.

"The legislation from the Senate banking committee, passed today on a party line vote by the Republican majority, includes measures that could cripple the ability of Fannie Mae and Freddie Mac to carry out their mission of expanding homeownership," said Sen. Harry Reid, D-Nev., the Senate Minority Leader Thursday.
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