Posted AT 12:55 PM EST on 07/01/09
No turning back on Fannie and Freddie, Paulson says
WASHINGTON — U.S. Treasury Secretary Henry Paulson said Wednesday that allowing mortgage giants Fannie Mae and Freddie Mac to return to their old operating ways is not an option.
Congress and the next administration must decide the proper role government should play in supporting home ownership in light of the severe economic costs imposed on the nation from the bursting of the housing bubble, Mr. Paulson said.
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