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Tuesday
Apr122011

Eight Ways to Kill the GSES

Eight bills designed to deflate the power of Fannie Mae and Freddie Mac passed the Capital Markets and Government Sponsored Enterprises Subcommittee last week.

Cumulatively, the legislation would curb excessive compensation for Fannie and Freddie executives, end affordable housing goals, increase guarantee fee requirements and end new business activity at the GSES.

The bills were proposed by Republican lawmakers who desire a quick shift to a mortgage market supported mostly by the private sector. The government had to bail out Fannie and Freddie three years ago and has since injected $150 billion into the GSES.