Senate Panel to Look at GSE Oversight

The Senate Banking Committee may have two hearings on the regulation of the government-sponsored enterprises during the week of Feb. 23.Federal Reserve Board Chairman Alan Greenspan is tentatively scheduled to testify on Feb. 24. And it appears likely that Fannie Mae, Freddie Mac, and the Federal Home Loan Banks will get their say the next day. One source said Fannie chairman and chief executive Franklin Raines wants to testify the next day so he can respond to the Fed chairman's testimony, which is expected to stress the need for strong regulation of the housing GSEs. Senate Banking Committee spokesman Andrew Gray said he could not comment on the date of a second hearing. "We have tentatively scheduled chairman Greenspan to discuss GSEs. We are looking to have another GSE hearing close to that hearing as well," Mr. Gray said. Committee Chairman Richard Shelby, R-Ala., wants the committee to vote on a bill to strengthen the regulation of the three housing GSEs in March.