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May 23, 2008
Senate Strikes Housing Rescue Deal
Democrats and Republicans in the Senate have ended weeks of negotiations with a plan that would allow the federal government to insure up to $300 billion in refinanced loans for at-risk homeowners. The bipartisan accord, which represents the clearest sign yet that Congress is ready to pass sweeping legislation on housing, also seeks to tighten up oversight of government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.
Posted by S. Germain at May 23, 2008 07:46 AM