They didn’t touch Fannie and Freddie reform during the Financial Regulatory Reform debate so why would they bring up this a hot potato right before the election?
In my opinion, this meeting is just political kabuki to show they are “working hard” and “making tough decisions” but they won’t actually do anything until the next Congress is sworn in.
My take is the meeting is intended to deflect charges that the Financial Regulatory Reform that was just passed didn’t address the root cause of the financial crisis, housing loans.
I don’t see how anything contentious is going to make any progress in Congress before the election. If they thought there was a political advantage to taking one position or another, they would have done that during the Financial Regulatory Reform debate.
This meeting is just a place marker to show the public that the politicos are “working hard” and “making tough decisions” (well, maybe next year, anyway).
That’s my expectation.