Frank's Recommended Freddie-Fannie Reading

By Victoria McGrane

(The Politico)  House Financial Services Chairman Barney Frank assigned some weekend reading to his panel.

The Massachusetts Democrats circulated a memo today that includes the entire transcript of a recent Washington Post online Q&A on the troubles of mortgage finance giants Fannie Mae and Freddie Mac.

The Crypt wonders if this is aimed at the Republican skeptics who’ve been publicly questioning the backstop plan proposed by Treasury Secretary Henry Paulson. “Free of the heated and hysterical rhetoric that has clouded this issue, it got quickly to the heart of the matter,” Frank writes in recommending the reading material.

Democratic leaders intend to include the Treasury backstop – or perhaps some compromise version of it – in a larger housing package moving through Congress.

Click here to read the full memo, including the Q&A.