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The newspaper has won praise for its coverage of important policy issues, including passage of the Gramm–Leach–Bliley Act, congressional debates surrounding regulation of government-sponsored enterprises like Fannie Mae and Freddie Mac, and the near-constant wave of mergers and acquisitions that affect banks.
After leaving office in 1999, he was appointed to the Fannie Mae Board of Directors by President Bill Clinton.
The subcommittee oversees urban mass transit systems and general urban affairs and development issues, HUD community development programs; the Federal Housing Administration; the Rural Housing Service; and Fannie Mae and Freddie Mac, federal corporations that help Americans with the costs of homeownership.
On September 6, 2008, the director of the Federal Housing Finance Agency (FHFA), James B. Lockhart III, announced his decision to place two Government-sponsored enterprises (GSEs), Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation), into conservatorship run by the FHFA.