Senate negotiators working on the financial-regulatory bill today rejected a proposal from House Republicans that would make big banks liable for the costs of winding down Fannie Mae and Freddie Mac. The proposal would have made the government-controlled home loan companies, which own or guarantee more than half of the $11trn US mortgage market, part of a Wall Street-financed “rainy day” fund that would be used to pay for the liquidation of large failed companies.
0 minute readSenators reject proposal for banks to bail out Fannie, Freddie
June 24, 2010, 2:28pm
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio