Syron: Bush Stance Bodes Well for GSE Reform

Freddie Mac chairman and chief executive Richard Syron says a more accommodative stance by the Bush administration has created "some movement" toward a compromise on GSE regulatory reform legislation.The Freddie Mac CEO was referring to recent discussions between Treasury Department officials and Rep. Barney Frank, D-Mass., which he said indicate that the House and the administration are close to agreement on several issues that have tied up government-sponsored enterprise legislation for several years. "In my mind, that would push things somewhat further ahead than they have been in the past." Mr. Syron said. But he stopped short of making any predictions about passage of a GSE reform bill or expressing support for such reforms. Nevertheless, he remarked that Rep. Frank, the new chairman of the House Financial Services Committee, is an able legislator and "extremely well acquainted" with GSE issues. In addition, the congressman has a "passionate interest" in affordable housing, he said. Mr. Syron made his remarks during a conference call with investors and Wall Street analysts.