Don’t Replace Fannie Mae And Freddie Mac: WSJ

The Johnson – Crapo bill to replace Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) with multiple private mortgage bond issuers would only create the same monsters, notes the WSJ editorial. The editorial notes Johnson-Crapo’s capital standards, as always, will be gamed or whittled down over time. Johnson-Crapo Fannie Mae and Freddie Mac reform bill Last month, US Senators Tim Johnson (D., S.D.) and Mike Crapo (R., Idaho) made a new proposal for reforming the US mortgage industry that falls in line with last year’s proposal from Bob Corker (R.,…