Barack Obama to overhaul Fannie Mae and Freddie Mac
March 25, 2010
Politico
3/24/2010
Fresh off a procedural victory in Congress on Wall Street regulatory reform, the Obama administration Tuesday turned its attention to the next massive and controversial financial fight in Congress: overhauling Fannie Mae and Freddie Mac.
In testimony before the House Financial Services Committee, Treasury Secretary Timothy Geithner called the public-private hybrid structure of Fannie and Freddie a “terrible mistake” and pledged to start work on legislation to overhaul the nation’s housing finance system.
“Realistically, it’s going to take several months to try to shape legislation that can command consensus,” Geithner said. “I don’t see why this should take years.”
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Harold
