In roughly 30 days, Fannie Mae and Freddie Mac will see their capital buffers fall to zero, an event that has GOP legislators working feverishly over the past several weeks to come up with housing-finance reform legislation. In short, Republicans fear that in the event of a quarterly loss by one or both GSEs next year, these massive mortgage giants might need to tap a line of credit they have with the U.S. Treasury, which would result in another “taxpayer bailout” of the two. And since Republicans are in charge of both chambers of Congress, as well as the White House, they would get blamed. At least that’s how the situation was explained to Inside The GSEs.