Wall Street could count on Eric Cantor to take its side in the U.S. Congress. It won’t have the same luck with a top lawmaker considering taking his place.
The congressional supercommittee faces a “daunting challenge” to meet its Nov. 23 deadline, Representative Jeb Hensarling of Texas, the panel’s Republican co-chairman, said today.
The House Financial Services Committee approved a Republican housing bill that would liquidate U.S.-owned financiers Fannie Mae and Freddie Mac and limit government mortgage guarantees.
U.S. House Financial Services Committee Chairman Jeb Hensarling said he will advance a bill to eliminate Fannie Mae and Freddie Mac and remove the federal backstop from most of the residential mortgage market.
"It's disappointing so many Democrats, who voted for these provisions just four months ago, suddenly switched their votes in a transparent ploy to appease their far-left wing. They were for this bill before they were against it."
- Jeb Hensarling on Jan 07, 2015