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March 25, 2013

Senate Budget Targets Fannie, Freddie Fees

“U.S. Senate lawmakers working overnight Saturday moved to curtail the government’s ability to use Fannie Mae and Freddie Mac to help pay for other government programs, and targeted Wall Street banks alleged to be “too big to jail.”

“The $3.7 trillion budget passed a few hours before dawn included a range of amendments offered by lawmakers eager to push pet issues on a piece of legislation that is non-binding and unlikely to become law. While largely symbolic, the amendments highlight lawmaker concerns and issues that could be targeted in other legislation.

“Included in the measure were a pair of amendments highlighting a growing belief from some lawmakers that Washington’s response to the 2008 financial crisis has been incomplete. The first would limit lawmakers from using fees charged by Fannie Mae and Freddie Mac to offset the cost of spending increases or tax cuts.”


Read full Wall Street Journal article here

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