Geithner sees change for Fannie/FreddieNews added by ProWEB Media on August 17, 2010
Gary Linnell

ProWEB Media

Joined: December 27, 2005

U.S. Treasury Secretary Timothy Geithner today voiced concerns related to the government's role in subsidizing and supporting the $10.7 trillion housing market.

This announcement comes nearly two years after the government seized Fannie Mae and Freddie Mac in an effort to save them from collapse. They have since received nearly $150 billion in taxpayer bailout money.

Speaking before leaders of the housing industry, Geithner said, "We will not support returning Fannie and Freddie to the role they played before conservatorship -- where they took market share from private competitors while enjoying the perception of government support."
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