Action to reform Fannie, Freddie is unlikely this year

03/11/2010 | Washington Post, The

After pouring more than $125 billion into Fannie Mae and Freddie Mac, the U.S. government still does not have a plan for restructuring the mortgage giants, The Washington Post reported. The Obama administration had planned to make a preliminary report public in February, but Treasury Secretary Timothy Geithner recently said it will be at least a year before the government makes a proposal for restructuring Fannie and Freddie. In the 16 months since they were seized, the companies have become the most expensive part of the financial system's bailout.

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