I hope that you'll support HR 1461, the Federal Housing Finance Reform Act.  As
you know, the Boston area is in the midst of a risky property bubble, and it's
important to the region's economic security that this bubble deflate gradually
in response to an eventual rise in long-term interest rates rather than suddenly
in response to an economic shock.  The Federal National Mortgage Association and
the Federal Home Loan Mortgage Corporation currently pose a risk for such a
shock because they've aggregated so much mortgage debt into only two companies,
both of which have recent records of mismanagement and overstatement of profits.
These government-chartered, pseudo-private companies are screaming out for
tighter regulation and oversight, which this bill would provide.