Recapitalizing Fannie, Freddie Not Viable: Treasury Official
Treasury official on Friday rejected calls to recapitalize Fannie Mae and Freddie Mac, saying it would take at least 20 years to make sure they were adequately funded and that in the meantime taxpayers would be on the hook. In remarks to a housing conference, Treasury Undersecretary Mary Miller repeated the Obama administration’s call that the two so-called government-sponsored enterprises be wound down. Efforts to wind down the two entities, the largest sources of mortgage finance, have foundered on Capitol Hill, spurring the hopes of investors who would like to see them reprivatized.
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