US vows reform plan for Fannie Mae, Freddie Mac

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US vows reform plan for Fannie Mae, Freddie Mac
from France24 - France by admin
The US Treasury on Tuesday promised a plan to reform troubled state-backed mortgage firms Fannie Mae and Freddie Mac by January, firing the starting gun on what is likely to be a rancorous debate.

In a statement, the Obama administration said it would work toward "a comprehensive housing finance reform proposal for delivery to Congress by January 2011," setting a firm deadline, beyond November elections.

The two firms played a pivotal role in the mortgage-fueled crisis, which plunged the US economy into a long and painful recession.

http://www.france24.com/en/20100727-us- ... reddie-mac