GSE HEARINGS CONTINUE.
THE THIRD IN A SERIES OF HEARINGS BEFORE the Subcommittee on Capital Markets, Securities and Government Sponsored Enterprises on strengthening regulation and promoting market discipline of the housing government-sponsored enterprises (GSEs) took place over the summer. The most recent hearing received testimony from the Treasury Department, Federal Reserve, housing GSE regulators and representatives from Fannie Mae, Freddie Mac and the Federal Home Loan Bank, as well as panels representing consumer and taxpayer interests. The aim of the bill, H.R. 3703, sponsored by Representative Richard H. Baker (R-Louisiana), is to shield taxpayers from the potential risk the housing GSEs pose. Representative Marge Roukema (R-New Jersey) stated her support of the bill in remarks made to the third hearing, saying "Mr. Baker has raised several issues which we need to explore carefully: potential systemic risk due to the size of the housing GSEs, appropriate capital requirements, bank ownership of agency securities and possibl e concentration problems." Roukema added, "I want to make it clear, however, that while I endorse these oversight hearings, moving this legislation is another matter. I--as well as several other members--do not support moving this legislation forward this year.... Quick action on this would be ill advised."
|Printer friendly Cite/link Email Feedback|
|Title Annotation:||government-sponsored enterprises|
|Article Type:||Brief Article|
|Date:||Aug 1, 2000|
|Previous Article:||MBA URGES COMPREHENSIVE MORTGAGE REFORM.|
|Next Article:||HUD/TREASURY RELEASES ANTIPREDATORY LENDING REPORT.|