Senators: No Housing Finance Reform Bill By Year’s End, Maybe 2014 As Status Quo ‘No Longer Viable’
December 13, 2013
The top Democrat and Republican on the Senate Banking, Housing and Urban Affairs Committee acknowledged this week they will not make their ambitious deadline of clearing a housing-finance reform bill by the end of this year. But the senior lawmakers said they remain “bullish” on moving legislation to the Senate floor sooner rather than later in 2014. Speaking at a Bipartisan Policy Center event, Committee Chairman Tim Johnson, D-SD, blamed “a couple of curveballs,” including the 16-day government shutdown, for falling short of the deadline he and Idaho Republican Mike Crapo set for the committee. The committee did manage to hold 12 hearings on reform and what to do with the two government-sponsored enterprises that have been in conservatorship for a little over five years. “Beyond private capital, we are also working...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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