Sunday, August 11, 2013 9:53:52 PM
Sepaking in Phoenix on Tuesday, Obama endorsed congressional efforts to end the role of government-backed Fannie Mae and Freddie Mac in insuring home loans and transferring more of their risk management responsibilities to the private sector
“The good news is, right now there’s a bipartisan group of senators working to end Fannie ad Freddie as we know them,” Obama said. “And I support these kinds of reform efforts.”
But Reid plainly does not.
“He says he wants to get rid of [Fannie and Freddie]. We’ve got to be very, very careful doing that,” Reid said. “I have no problem looking at them, revamping. But I think getting rid of them is not the right thing to do.”
A group of bipartisan Senate lawmakers, including Nevada Sen. Dean Heller, introduced a plan to wind down Fannie and Freddie in June. They hope to work on the legislation this fall.
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