New York Times (07/22/08) P. A1; Labaton, Stephen
As Congress prepares to vote on legislation that would institute a rescue plan for Fannie Mae and Freddie Mac, Treasury Secretary Henry Paulson Jr. announced that bank examiners from the Federal Reserve and the Comptroller of the Currency are reviewing the government-sponsored enterprises' books. Paulson insisted that the GSEs are sufficiently capitalized and said he hopes the examination will bolster the market's confidence. He emphasized how important it is for Congress to pass the housing bill soon, but the Bush administration reiterated that it would veto the measure if a provision giving states $4 billion in block grants to snap up foreclosed properties is not removed.
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