Stop me if you’ve heard this one before: “Two senators with a plan walk into a room . . .” Actually, there’s no punch line. Because it was no joke when Republican Senator Bob Corker and his Democratic colleague Mark Warner announced their proposal to reform Fannie Mae and Freddie Mac last month. They even captured the interest of cable news for a few minutes, before the networks quickly returned to courtroom dramas and Edward Snowden’s travel plans.
The unusual twist, however, is that the plan is bipartisan, substantive, and bold — three words not often found together in today’s Washington. That doesn’t make it perfect. But as in the old joke about “1,000 lawyers at the bottom of the ocean,” it is a good start.