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By Joseph Picard | September 17, 2010 4:07 PM EDT
Lawmakers wrestle with Fannie and Freddie - International Business Times:
"Fannie Mae and Freddie Mac, that pair of quasi-governmental mortgage companies often blamed for the housing crisis and subsequent financial meltdown, are prime targets for reform by the Obama administration. But what form will reform take?
Former President and CEO of Fannie Mae Daniel Mudd is sworn in before the Financial Crisis Inquiry Commission hearing on Capitol Hill in Washington, April 9, 2010.
Just as importantly, how will the administration and Congress rid the troubled mortgage giants of the enormous debt they have incurred -- that is, short of lowering it on the backs of American taxpayers?
'Fixing our nation's housing finance system is critically important to our economy and to our country's future,' said Michael Barr, assistant secretary for Financial Institutions at the U.S. Treasury Department.
'A new system must be designed to ensure that our housing finance system is more stable, consumers are protected,"
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