One of the loudest voices in the push to stiffen oversight of mortgage giants Fannie Mae and Freddie Mac on Monday said the lead piece of legislation in the U.S. House was weak and deficient.
The American Enterprise Institute, a Washington think tank that supports limited government and advocates privatizing Fannie Mae and Freddie Mac, said the bill sponsored by Republican Reps. Michael Oxley of Ohio and Richard Baker of Louisiana, does not do enough to limit the risks that some say the companies pose to the financial system.
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