U.S. Senate Committee on Banking, Housing, and Urban Affairs
Key senators agree on plan to replace Fannie Mae and Freddie Mac
WASHINGTON — Congressional efforts to shut down bailed-out Fannie Mae and Freddie Mac took a significant step forward with bipartisan agreement from key senators on a plan to overhaul the housing finance system.
The proposal released Tuesday would slowly shrink the companies and replace them with a scaled-back government guarantee for mortgages. Details are expected to be disclosed in the coming days.
Fannie Mae and Freddie Mac, which together own or guarantee about 60% of existing mortgages, were seized by the federal government in 2008 as they neared bankruptcy from bad loans they guaranteed during the subprime housing boom.
Senate Banking Committee leaders reached...
Related "U.S. Senate Committee on Banking, Housing, and Urban Affairs" Articles
Key senators agree on plan to replace Fannie Mae and Freddie Mac
WASHINGTON — Congressional efforts to shut down bailed-out Fannie Mae and Freddie Mac took a significant step forward with bipartisan agreement from key senators on a plan to overhaul the housing finance system.
The proposal released Tuesday would slowly...
Yellen to tell senators Fed must do more to help economy recover
WASHINGTON -- The Federal Reserve has helped the nation rebound from the Great Recession, but there still is more work to be done to reduce unemployment and get the economy back on track, Fed chair nominee Janet L. Yellen will tell senators at her...
Yellen to tell senators Fed must do more to help economy recover
WASHINGTON -- The Federal Reserve has helped the nation rebound from the Great Recession, but there still is more work to be done to reduce unemployment and get the economy back on track, Fed chair nominee Janet L. Yellen will tell senators at her...
New Iran sanctions could push U.S. toward war, White House warns
WASHINGTON -- The White House warned Congress on Tuesday that slapping new sanctions on Iran could sink international negotiations to curb Tehran’s nuclear program and send America on a “march to war.”
In the latest ratcheting up of the...