In a recent post, "Not Fade Away: Could The 30-Year Fixed Rate Mortgage Survive In A World Without Fannie And Freddie," I discussed the growing drumbeat surrounding the efforts of some members of Congress and the administration to do away with, or at the very least reign in, Fannie Mae and Freddie Mac. Now, Republicans in the House of Representatives have taken the first steps towards this goal, putting forth legislature that would reduce the role both enties play in the market and cut the pay of their executives.
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Pete's Take 