‘A whole new system of housing finance’.

Congressman Barney Frank (D-MA) has the nation's largest mortgage lenders squarely in his sights, and he's aiming to take them down. Backing what he called a "piecemeal" effort to reform how Americans purchase their homes, the Congressman said on Friday that the House Financial Services Committee, which he chairs, will likely move to abolish Fannie Mae and Freddie Mac, two banks previously considered "too big to fail." In their place, he said, "a whole new system of housing finance" should rise...Link