Sen. Richard Shelby, R-AL, this week tried to resuscitate legislation to toughen oversight of Fannie Mae and Freddie Mac by offering to cut a deal on what has been the key stumbling block: pro-posed limits on the retained investments of the government-sponsored enterprises. The chairman of the Senate Banking, Housing and Urban Affairs Committee said he would con-sider moving a GSE reform bill without strict portfolio limits as long as the risks posed by these mas-sive holdings are addressed somehow. Treasury Secretary Henry...