Posted on 02/03/2005 6:10:19 PM PST by april15Bendovr
Senate committee sets Fannie, Freddie hearing Thu Feb 3, 2005 04:00 PM ET
WASHINGTON, Feb 3 (Reuters) - The U.S. Senate Banking, Housing and Urban Affairs Committee will hold a hearing on the role of mortgage funders Fannie Mae and Freddie Mac in the mortgage market on Feb. 10, the committee said on Thursday.
The Senate will hear testimony from Housing and Urban Development Department Assistant Secretary John Weicher.
Both the House and Senate this year will consider legislation to strengthen regulatory oversight of Fannie Mae (FNM.N: Quote, Profile, Research) and Freddie Mac (FRE.N: Quote, Profile, Research) .
Fannie Mae was accused of billions of dollars in accounting errors last year, which led to the ousting of the company's chief executive and chief financial officers. That followed accounting problems at Freddie Mac in 2003. © Reuters 2005. All Rights Reserved.
Am I wrong or is there not an "elephant in the room" with one of these?!? At this moment I cannot remember the guys name, but seems to me there should be a REAL STINK about some guy getting "buckets of money" after putting the org. into total loss.
This will be a very interesting hearing to watch. Love to know who they will have testifying in front of them?
More bad news for Democrats.
Jamie Gorelick from the 9/11 comission 
Franklin Raines was Clinton OMD Director 
James Johnson From 1977 to 1981, he served as executive assistant to Vice President Walter F. Mondale, where he advised the Vice President on domestic and foreign policy and political matters. Earlier, he was employed by the Target Corporation, worked as a staff member in the U.S. Senate, and was on the faculty at Princeton University.
take a look at the committe members and you will see this is a group of do nothing senators.
I'd like to see a Blog war on the salaries psid to the quasi-gov organizations. How does a man or women earn seven figures for something that could be done by an outsorced organization? This agency has no big downside - they are buying mortages.
Cushy job for government has-beens
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