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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
April 30, 2013: Democratic U.S. Senate hopeful, Mass. Rep. Edward Markey, 
D-Malden, carries his ballot while casting his vote in Malden, Mass.APBOSTON 
 Democratic U.S. Rep. Edward Markey and Republican former Navy SEAL Gabriel 
Gomez won their party primaries on Tuesday, setting up a race between 
a 36-year veteran of Washington politics and a political newcomer for the 
U.S. Senate seat formerly held by John Kerry.Markey defeated fellow U.S. 
Rep. Stephen Lynch in the Democratic primary while Gomez, who's also a 
businessman, bested former U.S. Attorney Michael Sullivan and state Rep. 
Daniel Winslow in the GOP primary, according to unofficial returns. The 
special election is scheduled for June 25.The race to fill the seat 
Kerry left to become U.S. secretary of state has been overshadowed by 
the deadly Boston Marathon bombing, and the candidates had to temporarily 
suspend their campaigns.Even before the April 15 bombing, the campaign had 
failed to capture the attention of voters compared with the 2010 special 
election following the death of longtime Democratic Sen. Edward Kennedy. 
Former Republican Sen. Scott Brown won the seat, surprising Democrats, but 
was ousted last year in another high-profile race by Democratic challenger 
Elizabeth Warren.Markey, 66, led all the other candidates in fundraising 
and had won the backing early on of Kerry and a large 
segment of the Democratic establishment. Lynch, a South Boston conservative 
and self-descr



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