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Advocacy Blog
Friday, June 16, 2006
Shelby Expects Senate to Take Up GSE Bill This Summer
Freddie Mac wants to help move legislation forward in the Senate that would create a new regulator and is making progress toward an anticipated financial restatement, said Chief Executive Daniel Mudd to a Senate committee.
Sen. Richard Shelby should welcome that news. He is still pushing for tighter controls over Fannie and Freddie.
Legislative action has been stalled in the Senate over the issue of limiting Fannie and Freddie Mac's massive holdings of mortgage-backed securities.
Shelby is now saying he expects the Senate to debate a bill this summer. What that means for a anti-advocacy provision like the one the House passed in October is unclear. Hopefully, if and when the Senate moves forward, there will be no attempt to attach anti-advocacy language to the bill.
Posted by Jennifer Lowe
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