Fannie and Freddie Defy Obama, Look Invincib
Fannie and Freddie Defy Obama, Look Invincible BY Dan Freed | NEW YORK ( TheStreet ) -- Just a couple of years ago it looked like no one in Washington wanted to let Fannie Mae ( FNMA _ ) and Freddie Mac ( FMCC _ ) live, but the government sponsored entities (GSEs) have lately found defenders in unlikely places and are even showing signs of being independent of the Obama Administration. The surprising resilience of the mortgage giants comes ahead of a scheduled vote in the Senate Banking Committee Tuesday on legislation sponsored by Sens. Tim Johnson (D., SD) and Mi ke Crapo (R., ID) aimed at winding down Fannie and Freddie, a stated goal of President Obama. While the bill is expected to pass the Senate Banking Committee with at least 12 votes, it will likely require approval from 15 of the 22 committee members to have a chance at passing the full Senate, argues FBR Capital Markets analyst Ed Mills in a report publish...