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Sen. Mark Warner Leads Proposal To Reform Fannie Mae And Freddie Mac

Sen. Mark Warner is one of two senators behind a proposal to reform housing finance.
Sen. Mark Warner is one of two senators behind a proposal to reform housing finance.

Virginia Democratic Senator Mark Warner is helping lead a proposal through the upper chamber to overhaul Fanny Mae and Freddie Mac.

After the great recession, Democrats ushered through the Dodd-Frank Wall Street reform, which put restrictions on big financial institutions. But Senator Warner says that act fell short because it didn't focus on the housing market.

"The last part of financial reform is trying to make our housing finance system adequate for the 21st century," Sen. Warner says.

Warner says the current system allowed private shareholders to make money when times were good but put taxpayers on the hook for more than $180 billion during the economic downturn. The new plan that has bipartisan support in the Senate calls for unwinding Fannie Mae and Freddie Mac, which Warner says is necessary.

"Make sure that there's more private capital up front so when the downturns come, private capital takes the first hit rather than the taxpayers," Warner says.

Warner and Tennessee Republican Senator Bob Corker helped draft the initial proposal that's now been tweaked and signed off on by the heads of the banking committee.

WAMU 88.5

The Music And Legacy Of Motown

Motown founder Berry Gordy and director Charles Randolph-Wright of “Motown the Musical" join Diane for a conversation about the history of Detroit's famous sound.

WAMU 88.5

Will Montgomery County Go "Bottoms Up" On Liquor Laws?

Since Prohibition, Montgomery County has held the purse strings on liquor sales, meaning the county sells every drink from beer to bourbon to local bars and restaurants. But local business owners are pushing back from this system, claiming it lacks efficiency and leaves customers waiting. County officials say they are holding out for alternatives that protect those within the industry. We discuss both sides of the issue today.

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Exelon's Chief Strategy Officer On Its Proposed Takeover Of Pepco

Kojo chats with Exelon's chief strategy officer about the company's vision for electric service in the Washington region, and its argument for why its acquisition of Pepco is in the best interest of customers.

WAMU 88.5

Computer Guys And Gal

Another year is coming to a close and the Computer Guys And Gal are here to discuss this year's biggest technology news, including the growth of virtual reality and the "Internet of Things."

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