Summary Box: Treasury to hold conference on future of mortgage system next month
By APTuesday, July 27, 2010
Summary Box: Conference on Fannie, Freddie
CONFERENCE SCHEDULED: The Obama administration will hold a conference Aug. 17 to discuss the future of government-sponsored mortgage buyers Fannie Mae and Freddie Mac, which almost collapsed nearly two years ago.
NO PLAN SO FAR: The financial overhaul signed by President Barack Obama didn’t address their future, despite protests from Republicans. Obama officials plan to wait until next year, arguing that the housing market remains too fragile for major changes.
HEFTY COSTS: Stablizing the two companies has cost taxpayers $145 billion so far.
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