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Outgoing Treasury Secretary Paulson has suggested that Congress should replace Fannie Mae and Freddie Mac with one or two private-sector entities. Those entities would purchase and securitize mortgages with a credit guarantee backed by the federal government, and would not have investment portfolios...
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U.S. Treasury Secretary Henry Paulson said he is pleased Freddie Mac and Fannie Mae are committed to raising more capital this spring, calling reform of the government-sponsored enterprises the best way to combat foreclosures. Paulson said foreclosures will hit 2.5 million in 2008, compared with 1.5...