Barney Frank Wants Elimination of Fanny Mae

Rep. Barney Frank (D- Mass.), head of the House Financial Services Committee, and online gambling's closest ally, says enough with Fanny Mae and Freddie Mac. 

Home lending industry giants Fannie and Freddie have lost billions of dollars and this past week requested yet another cash infusion from the US Government. 

The Republicans have asked for hearings on a possible Fannie/Freddie "Bailout" and Frank rescheduled a hearing on the future structure of housing finance and the two companies until March 23.

This recent crisis has the online gambling sector somewhat concerned over Frank's prioritizing.  The Massachusetts Congressman has made it clear that regulation of online poker remains atop his agenda, but that was before last week's news.

Partly bankrolled by offshore gambling companies, the campaign to legalize online gambling has resulted in delayed enforcement of a 2006 law cracking down on Internet wagers until June 1 and Frank had hoped to work within that time frame on eliminating legislation that would prohibit the activity.

Jagajeet Chiba, Gambling911.com