By Marcy Gordon, Associated Press
A House committee on Wednesday approved legislation that would strengthen federal government oversight of Fannie Mae and Freddie Mac, the big mortgage companies.
The measure, approved 65-5 by the House Financial Services Committee, falls short of the Bush administration’s proposal to reduce the companies’ multibillion-dollar holdings.
Republicans are pushing to rein in the two powerful, government-sponsored companies that have been beset by accounting scandals. Efforts by Democrats to reshape the bill generally failed in the GOP-controlled committee.
For this complete story, please visit House Panel Approves Bill Strengthening Government Authority Over Fannie Mae, Freddie Mac.
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