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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.


Lisa Lucas Takes The Reins At The National Book Foundation

Lucas is the third executive director in the history of the foundation, which runs the National Book Awards. Her priority? Inclusivity: "Everyone is either a reader or a potential reader," she says.

The Shocking Truth About America's Ethanol Law: It Doesn't Matter (For Now)

Ted Cruz doesn't like the law that requires the use of ethanol in gasoline. So what would happen if it was abolished? The surprising answer: not much, probably.
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The Latest on the Military, Political and Humanitarian Crises in Syria

Russia continues airstrikes in Syria. Secretary Kerry meets with world leaders in an attempt to resolve the country’s five-year civil war. A panel joins Diane to discuss the latest on the military, political and humanitarian crises facing Syria.


Twitter Tries A New Kind Of Timeline By Predicting What May Interest You

Twitter has struggled to attract new users. Its latest effort at rejuvenation is a new kind of timeline that predicts which older posts you might not want to miss and displays them on top.

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