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House Reps Spar Over Future Of Fannie And Freddie

Law360 (April 5, 2011, 9:26 PM EDT) -- Democratic and Republican legislators agreed that Congress needed to overhaul Fannie Mae and Freddie Mac but sharply differed on how best to wind down the government-sponsored entities during a U.S. House of Representatives hearing Tuesday.

The House Financial Services Committee's subcommittee on capital markets and government-sponsored enterprises met to consider amendments to eight bills aimed at reducing Fannie and Freddie's market share, but Democrats argued that Republicans were moving too quickly and incoherently.

Rep. Maxine Waters, D-Calif., moved twice to postpone markup hearings on the bills...
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