On Sep 16, 6:33 am, Hollywood <[EMAIL PROTECTED]> wrote: > Tell me specifically what Bush tried that would have "stopped it".
http://www.forbes.com/markets/feeds/afx/2008/01/24/afx4572366.html The House plan also calls for a temporary increase in the size of mortgages that Fannie Mae (nyse: FNM - news - people ) and Freddie Mac (nyse: FRE - news - people ) can buy, to 730,000 usd from the current 417,000. Paulson had opposed this component, because he wanted to use it as a carrot to push Congress into passing legislation that would toughen the regulatory structure of the two mortgage giants. 'But I got run down by a bipartisan steamroller,' Paulson told reporters at the White House. Frank told reporters he assured Paulson that he would not pursue legislation to further expand the conforming loan limits. And Senate Banking Committee Chairman Christopher Dodd of Connecticut is expected to push legislation to strengthen federal regulation of the two companies. Nonetheless, the federal regulator of the two companies, the Office of Federal Housing Enterprise Oversight (OFHEO), said it was 'disappointed' that the stimulus package includes an expansion of the conforming loan limit that is not part of increased regulatory authority. 'We are very disappointed in the proposal to increase the conforming loan limit as we believe it is a mistake to do so in the absence of comprehensive GSE regulatory reform,' said OFHEO Director James Lockhart. --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
