Republicans in the House of Representatives are busily assembling several legislative proposals to reform the housing sector and reduce government support for the secondary market in home loans used by banks to manage their liquidity. According to Joe Engelhart at CapitalAlpha Partners: “House Republicans are considering an ambitious series of standalone legislative initiatives to reduce the role of Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) over the next five years.” Meanwhile, President Barack Obama has started another war in the Middle East with his political soul mates in the EU. The President has also embarked upon an ambitious schedule of foreign tourism and domestic campaign stops, but nothing of substance.