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House Senate panels look at GSE takeovers
WASHINGTON (9/15/08)—On the to-do lists in the next few weeks of both U.S. Treasury Secretary Henry Paulson and the director of the new Federal Housing Finance Agency (FHFA), James Lockhart; testify before both the Senate Banking Committee and the House Financial Services Committee. The Senate panel has set a hearing entitled “Recent Regulatory Actions Regarding Fannie Mae and Freddie Mac” for tomorrow, Sept. 16. Paulson and Lockhart are the only witnesses listed. House Financial Services has slated a Sept. 25 oversight hearing, also to examine last week’s action by the Treasury Department to place the housing government-sponsored enterprises into conservatorship. During that session, Paulson and Lockhart are scheduled to be joined at the witness table by Ben Bernanke, chairman of the Federal Reserve Board, and Federal Housing Authority Commissioner Brian Montgomery. After the hearing, the committee is scheduled to vote on five bills. (See related story: New Internet gambling definition bill up for vote.) Also of note, Senate Banking announced Friday that it would conduct a hearing on recent bank failures and the federal banking regulators’ responses to them. Scheduled to testify are Chairman Sheila Bair of the Federal Deposit Insurance Corp., Comptroller of the Currency John Dugan, and Director John Reich of the Office of Thrift Supervision.
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