Corker and Warner’s bill has support from 10 senators on the 22-member Senate Banking Committee. Their measure would replace Fannie Mae and Freddie Mac with a federal reinsurer that would step in only after private capital had taken least 10 percent of the first losses on mortgage securities. The government would step in with more aid during a financial catastrophe. The measure was written with technical input from the administration of President Barack Obama, who has endorsed the bill.
The House measure is unlikely to become law because it doesn’t have any Democratic support, isn’t backed by some Republicans, and housing industry representatives are lobbying heavily against it.
nothing much really noteworthy really going onto make the stock move as it has. pps goes up, down, up, etc. I believe there will be many more and significant up days to come. I do think realistically the GSEs can be eliminated any time soon even if Obama would dictate it. This is so complex. And the wild card that says it like nothing else...the billions of $$$ the GSEs make. Still long and strong!