McCain’s GSE Reform Amendment Fails

Posted by Orb Staff on May 12, 2010 No Comments
Categories : Residential Mortgage

By a 43-56 vote, the Senate opposed a Republican amendment that would have capped the federal government's support of government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.

The amendment to the Senate financial reform bill, introduced last week by Sen. John McCain, R-Ariz., was rejected in favor of an amendment from Sen. Chris Dodd, D-Conn., that requires the U.S. Treasury Department to conduct a study on ending the GSEs' conservatorship. Dodd's measure passed by a 63-36 vote.

SOURCE: U.S. Senate

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