The fate of the demand made by Fannie Mae is expected to be decided today after the end of the debate on legislation to overhaul financial regulation. While the once a giant in the mortgage business seeks another financial aid after its massive 11th quarter loss.

Fannie is under the federal conservatorship is asking for $ 8.4 billion in form of aid so that it can bridge the gap developed because of $11.5 billion loss that it has suffered. In the last 10 quarters it has faced a loss of $136.8 billion. If the aid is provided then the total amount given to it will be $84.6 billion since April last year.

On the other hand, Senators from the Republican Party want the government to wind down Fannie and Freddie. They have been trying hard to push forward such an amendment.

The proposal for such a case was made by Senator John McCain, Richard C. Shelby and Judd Gregg.

They want that the state control in these firms should become zero within next two years. This, they say, will reduce the burden on the stakeholders.