Bush Administration Flexes GSE Regulatory Muscle, Promises Closer Scrutiny of Fannie and Freddie
June 15, 2006
The Bush administration turned up the heat this week on Fannie Mae and Freddie Mac by announcing separate “reviews” of the government-sponsored enterprises’ non-mortgage investments and the government’s traffic-control processes for approving GSE debt issues. Coming on the heels of Fannie Mae’s recent $400 million settlement agreement with federal regulators, the new GSE regulatory initiatives were seen as stimulants to prod a stalled legislative process to create a new government regulatory apparatus for Fannie, Freddie…