The Senate Banking Subcommittee on Housing this week showed little interest in the formidable legislative task of writing a new regulatory framework for Fannie Mae and Freddie Mac in the panel’s first hearing on the government-sponsored enterprises in five years. The effectiveness of the Office of Federal Housing Enterprise Oversight was the "central question" of the hearing, said the subcommittee’s chairman, Sen. Wayne Allard, R-CO. And though OFHEO was chastened again for delays in issuing