The White House has planned a conference for Aug. 17 to discuss the housing-finance system and a proposal for revamping Fannie Mae and Freddie Mac. "The future of our housing-finance system is critical not only to our economic recovery, but also to millions of American homeowners in every corner of our country," said Treasury Secretary Timothy Geithner. The Obama administration is seeking a "comprehensive reform proposal that protects taxpayers, institutes tough oversight, restores the long-term health of our housing market, and strengthens our nation's economic recovery," Mr. Geithner said.

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