Treasury Secretary Timothy Geithner has indicated that the White House has no plan to overhaul Fannie Mae and Freddie Mac in 2010. Testifying before the House Budget Committee, Geithner expounded that, “We are going to propose reforms to Congress next year to try to make sure we bring about fundamental change in the housing market and get ourselves in a position where the government is playing a less risky but more constructive role in supporting housing markets.” However, House Financial Services Chairman Barney Frank (D-Mass.) has indicated that he still plans to proceed with hearings and debate over how to restructure the GSEs. Chairman Frank will hold his first hearing on the subject in early March. Read more…
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