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July 18th, 2008
Posted: 06:00 PM ET
NEW YORK (CNNMoney.com) — The House is likely next week to make changes in a Bush administration proposal to empower the Treasury to back up embattled mortgage giants Fannie Mae and Freddie Mac, officials have indicated. Lawmakers will probably accommodate the broad outlines of a proposal by Treasury Secretary Henry Paulson to offer explicit backing for the two government-sponsored enterprises. But House Financial Services Chairman Barney Frank, D-Massachusetts, and other key leaders are expected to impose parameters that will counter concerns that the plan gives Treasury a blank check. |
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