U.S. Rep. Paul Kanjorski, D-Pa., says he'll summon Fannie Mae and Freddie Mac watchers to his House Banking Subcommittee on Capital Markets, Insurance and Government-Sponsored Enterprises (aren't they all?) on Wednesday. More info here.

Kanjorski says it's time (I) to see what they're doing with the people's billions, (II) "to begin the long-term debate on how Fannie Mae and Freddie Mac will be structured going forward, after we stabilize the economy."

First, the Hons. will grill three Federal Housing Finance Agency executives: director James B. Lockhart, his deputy for "Housing Mission and Goals" Edward J. DeMarco, and "Enterprise Regulation" deputy Christopher Dickerson.
Next, they'll take self-interested and/or expert testimony from
   Bruce A. Morrison, Chairman, Morrison Public Affairs Group
   Wharton School (Penn)'s own finance Prof. Susan M. Wachter
   National Association of Realtors'  Frances Martinez Myers, svp at  Fox & Roach/Trident, LP
   Stern School (NYU)'s economics Prof. Lawrence J. White
   Mortgage Bankers' Association vice chairman Michael D. Berman
   National Association of Homebuilders chairman Joe Robson, Robson Cos.