Republicans begin to chip away at Fannie, Freddie

Reuters reports:

The House Financial Services subcommittee responsible for overseeing Fannie Mae and Freddie Mac approved eight narrowly crafted bills late on Tuesday and early Wednesday targeting the two firms, including one that would sharply cut the pay of their executives.

Republicans are pushing hard to curtail the two government-controlled firms as part of a broad effort to scale back the government's involvement in housing. Democrats are more sympathetic to a continued, but smaller, government role.

It's time to separate housing from state.