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To: CalculatedRisk who wrote (84587)	8/10/2007 10:19:00 PM
From: Think4Yourself	Respond to of 306849

OK, that makes sense. OTOH even if Congress does approve the acceptance of Jumbo loans, and Bush signs it into law, the cap will effectively prevent Fannie or Freddie from accepting them, right? It seems the cap would have to be drastically raised to handle a significant quantity of such large loans. Can Congress override the cap without Bush's approval? Bush was pretty adamant that he wanted Freddie and Fannie to finish cleaning up their act before he would approve any changes. They are still a long ways from having clean accounting.