Yesterday the Fannie Mae and Freddie Mac Full Disclosure Act has been introduced by Reps. Adam Putnam, R-Fla., and Edward Markey, D-Mass., according to published reports.
The proposed legislation is asking for the GSEs to pay registration fees and disclose information required by the Securities and Exchange Commission just like other publicly traded companies and issuers of private MBS do, the report said.
"There are many factors that were involved in our current economic meltdown," Putnam said. "And one of them was a failure to require enough transparency and accountability from Fannie and Freddie."
