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<p style="font-size:xx-small;">n.Obama will announce Wheeler's and Watt's appointments from the White
House Wednesday afternoon. The White House officials spoke on condition
of anonymity because they weren't authorized to publicly discuss the appointments
before the president's formal announcement.Watt's nomination comes at a
crucial time for Fannie Mae and Freddie Mac, two federally sponsored mortgage-finance
enterprises that the government rescued at the height of the financial crisis
in September 2008 as they teetered near collapse from losses on mortgage
loans gone bad.Taxpayers have spent about $170 billion to rescue the companies.
So far, they have repaid a combined $55.2 billion.Fannie and Freddie together
own or guarantee about half of all U.S. mortgages, or nearly 31
million home loans. Those loans are worth more than $5 trillion. Along
with other federal agencies, they back roughly 90 percent of new mortgages.The
nomination comes as the housing industry is making a comeback. Home prices
are up, foreclosures are down and housing construction is on the rise.
Moreover, Fannie Mae had its biggest yearly profit last year, earning $17.2
billion.Watt, a senior member of the House Financial Services Committee
and former chairman of the Congressional Black Caucus, played an influential
role in the passage of a financial regulatory overhaul in 2010. That
legislation, however, did not address the fate of the major mortgage lenders,
an issue likely to come up during Obam
In this image taken Sunday, April 28, 2013 from video footage obtained
by APTN, the fourth image taken from a series of 5, the
horse carrying a man believed to be Turkmen President Gurbanguli Berdymukhamedov
falls after crossing the finish line at a horse race during celebrations
of Turkmenistans renowned desert racehorses in capital Ashgabat, Turkmenistan.
Berdymukhamedov did not appear to have been seriously injured and appeared
before the crowd about a half-hour after the fall. (AP Photo/via
APTN)The Associated PressIn this image taken Sunday, April 28, 2013 from
video footage obtained by APTN, the fifth image taken from a series
of 5, guards run to a man believed to be Turkmen
President Gurbanguli Berdymukhamedov lying on the ground after his horse
fell throwing him at a horse race during celebrations of Turkmenistans
renowned desert racehorses in capital Ashgabat, Turkmenistan. Berdymukhamedov
did not appear to have been seriously injured and appeared before the
crowd about a half-hour after the fall. (AP Photo/via APTN)The Associated
PressIn this image taken Sunday, April 28, 2013 from video footage obtained
by APTN, the second image taken from a series of 5,
a man believed to be Turkmen President Gurbanguli Berdymukhamedov rides
his horse to victory as his horse starts falling at a
race during celebrations of Turkmenistans renowned desert racehorses in
capital Ashgabat, Turkmenistan. Berdymukhamedov did not appear to ha
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