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Keystone passes in U.S. Senate, faces Obama veto

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Fannie Mae, Freddie Mac would be eliminated in Senate bill

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By Clea Benson and Cheyenne Hopkins

WASHINGTON — Fannie Mae and Freddie Mac would be eliminated and private interests would be on the hook for the first 10 percent of mortgage losses under a bill that leaders of the Senate Banking Committee plan to introduce within days.

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