Rudman Shies Away From Taking Stand On GSE Portfolios, Backs New Regulator
Former Senator Warren Rudman said the detailed report of an examination of Fannie Mae’s accounting and management problems recently released by his firm underscores the need for a new, stronger regulator for the government-sponsored enterprises. But in a hearing in the House Financial Services Committee this week, Rudman declined to endorse controversial proposals to limit or shrink the GSEs’ large investment portfolios – one of the key issues that has delayed GSE reform. The former…