Government should retain a mortgage guarantee, Geithner says

Treasury Secretary Timothy Geithner addressed questions pertaining to the future of Fannie Mae and Freddie Mac, saying a federal guarantee of "some type" should be retained to ensure consumers can finance mortgages. But Geithner also said the administration does not plan to "preserve Fannie and Freddie in anything like their current form" but noted that "there's going to be a good case for taking a look at preserving or putting in place a carefully designed guarantee so, again, homeowners have the ability to borrow to finance a home even in a very difficult recession."

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