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Thursday, Jul 11
Congressional Republicans set down their marker, promising legislation to wind down Fannie Mae...
Congressional Republicans set down their marker, promising legislation to wind down Fannie Mae (FNMA.OB -3.9%) and Freddie Mac (FMCC.OB -6.2%) over 5 years and end their roles in the private mortgage market. Even if passed in the House, the measure is DOA in the Senate, but represents a starting point for negotiations. "We will not have a policy that is principally designed for the housing industry," says Congressman Hensarling. We'll come back to that quote in a year.