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By Steve King
Topic - Mark A. Calabria
When Republicans take control of the House next month, few committees will undergo a more drastic transformation in style, tempo and possibly legislative action than the Financial Services one.
Republican leaders on Capitol Hill say ending the federal bailout of insolvent mortgage buyers Fannie Mae and Freddie Mac will be a major goal for the next Congress and criticize Democrats for failing to fix the pair of institutions that had central roles in the recent financial and housing crises.
"You try to get leverage where you can. In the Senate, nominations are your leverage," said Mark A. Calabria, who monitors financial regulation at the conservative-leaning Cato Institute.
Mr. Bachus' appointment of outspoken conservative Texas Republican Rep. Jeb Hensarling as the committee's vice chairman will serve as counterbalance and give Republicans a solid one-two punch on the panel, Mr. Calabria said.