And Congress' ultimate approval. As late as July, when he finally got Congress to approve oversight, Congress members were still griping: "The financial condition of the two companies is being followed closely by members of Congress, some of whom have expressed concern about approving a plan without a clearer understanding of the value of the possible losses from mortgage-related securities owned or guaranteed by them." Regulators check Fannie, Freddie books: report | Reuters Executive Office of the President Office of Management and Budget press release, May 29, 2002: OMB URGES GREATER PUBLIC DISCLOSURE FOR FANNIE MAE AND FREDDIE MAC "Requests OFHEO to consider rulemaking" The Office of Management and Budget released a statement urging oversight, referring to a March 7th 2002 10-point plan to IMPROVE CORPORATE RESPONSIBILITY AND HELP PROTECT AMERICA'S SHAREHOLDERS. The "OIRA's request came in teh form of a "prompt" letter, a tool introduced by teh Bush administration. While a prompt letter does not necessarily force agency action, it alerts agencies of issues OMB considers a priority." OMB news released, 05/29/2002 2002 News Releases There's more but I've got to post this before I lose it.