Fannie-Freddie Overhaul Bill Advances: What’s Next?
Wall Street Journal
Thursday, May 15, 2014
The Senate Banking Committee has approved a White House-supported bipartisan measure to overhaul Fannie Mae and Freddie Mac on a 13-9 vote. But analysts say that is short of the majority needed to compel Senate Majority Leader Harry Reid (D-Nev.) to bring the bill up for a floor vote. It is an open question whether the Johnson-Crapo bill will become the base from which legislative efforts resume in the next Congress, or if Sens. Brown, Schumer or Shelby will seek to start anew. Liberal lawmakers have felt less urgency to advance an overhaul given the new direction towards maintaining the organizations' roles being charted by FHFA Director Mel Watt.