Corker’s retirement may change GSE reform calculus
By Kate Berry and Rob Blackwell
Sen. Bob Corker, R-Tenn., a key voice in the debate over housing finance reform and one of the Senate Banking Committee’s most influential members, announced Tuesday that he will not seek re-election in 2018. His departure puts a deadline of sorts on his ongoing efforts to unwind and replace Fannie Mae and Freddie Mac, an endeavor he started in earnest four years ago but which so far has failed to gain traction. …“It puts a deadline on everything he wants done,” said Karen Shaw Petrou, managing partner at Federal Financial Analytics, who called him one of the “most knowledgeable” policymakers on the issue. …”It’s only a matter of time before Fannie and Freddie blow up, because any institution as big as the GSEs on zero capital is on life support,” Petrou said. “They have to do something.”