An anticipated Senate bill aimed at restructuring GSE oversight contains some surprisingly strict new rules for Fannie and Freddie. The Federal Enterprise Regulatory Reform Act of 2003, introduced July 31 by Nebraska Republican Chuck Hagel, expectedly moves regulatory oversight of Fannie and Freddie from the Department of Housing and Urban Development to a new agency within Treasury. But the bill also grants this new entity, called the Office of Federal Enterprise Supervision, authority over