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Oxley to Cosponsor Baker's 'Strong' GSE Reform Bill.(Michael Oxley)(government-sponsored enterprises)

American Banker

| April 05, 2005 | Blackwell, Rob | COPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

WASHINGTON -- Rep. Richard Baker received a critical boost Monday in his quest to rein in Fannie Mae and Freddie Mac; House Financial Services Committee Chairman Michael Oxley revealed that he would cosponsor the Louisiana Republican's bill to create a new regulator.

Rep. Baker is expected to introduce the legislation today, and a spokeswoman for Rep. Oxley said that the chairman would sign on, because it is "both strong and reasonable." The spokeswoman said the bill would serve as the committee's vehicle for reform of the regulation of the government-sponsored enterprises.

Observers said Rep. Oxley's support increased the chances that the committee would …

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