Posted on 03/11/2010 3:32:05 AM PST by tobyhill
The federal government has spent the past half year seeking to roll back its emergency efforts at propping up the financial markets — with the notable exception of its involvement in mortgage giants Fannie Mae and Freddie Mac.
As the government has pledged more and more money to cover the companies' losses, it has assured the public that planning was underway for overhauling the firms so the bailouts would end. As recently as December, the Obama administration said it expected to release a preliminary report on how to remake Fannie Mae and Freddie Mac around Feb. 1.
But no plan was produced, and in response to questions from lawmakers, Treasury Secretary Timothy F. Geithner clarified last month that it would be another year before the government proposes how to restructure the firms.
(Excerpt) Read more at msnbc.msn.com ...
The wages of housing socialism sin is fiscal death.
Government is not reason; it is not eloquence; it is force. Like fire, it is a dangerous servant and a terrible master.
-George Washington
Adding this thread here:
Obama-nomics link-list
http://www.freerepublic.com/focus/chat/2464021/posts?page=4
Isnt barney Frank still running things ?
Shouldnt the first reform be to get rid of Barney?
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