So far, taxpayers have spent $145 billion to keep Fannie and Freddie solvent, and that tab is expected to go much higher.
Rep. Jeb Hensarling (R-Texas) has introduced a bill that would keep the two failed mortgage companies in government hands for the next two years. After that two-year period, the government would determine if Fannie and Freddie could continue operating as private companies. If they could, they would both be completely privatized and heavily regulated. If they proved to be non-viable, they would be dismantled permanently.
Democrats in the Senate defeated a Republican amendment to the financial regulatory overhaul that was inspired by the Hensarling bill.
Instead of offering their own plan for dealing with Fannie and Freddie, however, Democrats proposed having the Treasury Department conduct a study to figure out what to do with the failed companies. Senate Democrats approved that government study amendment.
Hensarling’s bill, meanwhile, is still languishing in the House – where the Financial Services Committee has yet to schedule a hearing on it. The bill was submitted on March 19.
In the following two months, the House has acted on several less important items, including passing a resolution recognizing May 17-23 as American Craft Beer Week and expressing the nation’s gratitude for the contributions of its specialty beer brewers.
That bill was introduced in the House Oversight and Government Reform Committee on April 22 and passed by the House on May 12. The House also acted on a bill to establish May 15 as National Learn to Fly Day. That bill was introduced in the Transportation and Infrastructure Committee on April 21 and passed by the House on May 12.
6 comments:
What Democrats are drunk at the wheel ? Shocker !
Can we survive until November?
It's good to know that the house is acting on such important issues as Craft Beer week and Learn to Fly day. Nero fiddles while Rome burns.
as long as these crooks are in power; we will have abounding coruption; excessive spending; exhorbitant taxes; unbrideled control over its citizenery. need i say more???????????????
vote these people out of office in november. clean house now..
this may be our last chance.
Why fix the problem when it is so much fun pointing fingers? Obama could look like a hero tackling this issue but he just cant stand to correct any government deficiencies.
All we need to do is elect Republicans - again.
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