J.C. Watts' new focus.(Spotlight)

ONIE OF THE HOTTEST TOPICS IN WASHINGTON THIS SUMMER HAS BEEN possible changes to the regulation of the government-sponsored enterprises (GSEs). A new figure at the forefront of this discussion is former Oklahoma Congressman J.C. Watts.

In May, after eight years of service in the U.S. House of Representatives, Republican Watts became chairman of FM Policy Focus (formerly FM Watch), Washington, D.C. In this new role, Watts wants to make FM Policy Focus a top player shaping Congress' policy decisions on the GSEs. For those who don't know, FM Policy Focus is a coalition of financial services and housing-related trade associations working with affordable-housing and consumer advocates, taxpayers groups and financial institutions on GSE policy matters. …