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Washington
Inside Washington (09/30/2010)
* WASHINGTON (10/1/10)—Janet L. Yellin has been confirmed by the U.S. Senate as vice chairwoman of the Federal Reserve Board and Sarah Bloom Raskin has been confirmed as a Fed governor (The New York Times Sept. 30) The Fed’s seven-member board has been operating with just four members since Donald L. Kohn retired as vice chairman on Sept. 1. There is one place still left vacant, and Peter A. Diamond, an MIT economics professor, has been nominated by President Obama to fill that spot … * WASHINGTON (10/1/10)—November is the new ETA for legislation that would outline the future of the country’s housing finance system, according to House Financial Services Committee Chairman Barney Frank, who said Wednesday that a shorter—by seven days—than expected legislative calendar prior to the pre-election recess would make it too much of a rush job to tackle such legislation before then (American Banker Sept. 30) Frank made his remarks during a committee hearing on the future of Fannie Mae and Freddie Mac, at which witnesses such as Phil Swagel, a professor at the McDonough School of Business at Georgetown University and a former Bush administration official, and Ed Pinto, formerly the chief credit officer at Fannie Mae and now a consultant, testified. During the hearing one panel member, Rep. Paul Kanjorski (D-Pa.), wondered if the transition of student-loan giant Sallie Mae from a government-sponsored enterprise (GSE) to private ownership could serve as a model for a new structure for housing GSEs, Fannie Mae and Freddie Mac …


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