Obama wants new model for Fannie, Freddie

Reuters via Yahoo Finance ^ | 8/17/2010 | Kevin Drawbaugh & David Lawder

[Qbert]

WASHINGTON (Reuters) - The Obama administration called for "fundamental change" at Fannie Mae and Freddie Mac, but a long, politically explosive debate lies ahead on the future of the bailed-out mortgage finance giants and U.S. housing policy.

U.S. Treasury Secretary Timothy Geithner on Tuesday raised basic questions with housing industry leaders about the U.S. government's long-standing role in subsidizing and supporting the $10.7 trillion housing market.

"It is not tenable to leave in place the system we have today," Geithner said at a conference hosted by the Treasury Department almost two years after the government seized Fannie Mae and Freddie Mac to save them from collapse.

Since then, the two firms have received nearly $150 billion in taxpayer bailout money and have been placed in conservatorship, sharply restricting their past activities.

[Qbert]

"...Geithner said there is a strong case for a carefully designed government guarantee for mortgages, and that a key question will be whether the private sector can provide a form of insurance or guarantee on its own."

[Uncle Ike]

” Obama wants new model for Fannie, Freddie “

Depending on who the model is, that might be a good trade....

[wiggen]

Why should private industry provide guarantees? The way the government guarantee is viewed is its free even though we know thats not so. It will cost and cost plenty if private industry does it. Of course then they will be accused of profiting on the backs of the poor.

[Uncle Miltie]

Gee, two years on they finally have a thought?

[yoe]

Look out Barney.....the government is taking over - government guarantee means a guaranteed crash........government only weakens and ruins not make stronger and viable.....

[maggief]

Obama wants new model for Fannie,...

[rod1]

Guess that Barney Frank, Cris Dodd and Jamie Gorelick did not steal enough of taxpayer dollars the first time around.

[bill1952]

The Government runs the Post Office & it wants to change Fannie & Freddie?
No way.

[Southack]

The U.S. has 19 Million vacant homes. Housing is artificially propped up, and will remain so for quite some time, but keeping it propped up via Fannie Mae will sap money into housing, away from more productive uses of capital.

[taxcontrol]

Hey, here is a new model ... get government out of the housing market. No money, no rules, no social policies, in other words, NO FREDDIE OR FANNIE.

[Pigsley]

Tee-hee!

Caption to that photo:

Baloon over Barry's head: I need some quality time with Reggie Love in the Lincoln bedroom to help me get this image out of my mind.

[Nachum]

The list, ping

[WOBBLY BOB]

Here he is...with his sore fannie.

[Vendome]

Barry wants a new model for Fannie Mae? Let me make a suggestion:

 

[Vinnie]

The new corporations will be known as...

Faniqua & Fredorian

[Vinnie]

The new corporations will be known as...

Faniqua & Fredorian

[HighlyOpinionated]

WHAT? He didn't get a large enough payback?

Obama is a BUZLUM.
Bosom-Buddy-Muzlum-Sympathizing-Pond-Scum.

[sarasota]

Hasn’t this been tried before?

[maddog55]

That would never interest Barney Frank..

Me on the other hand !!!

[FrankR]

What about the old "models"...the ones who caused all the mess...do they get to just "skate" on this one?