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Obama Admin Too Busy To Deal With Fannie, Freddie, Says Assistant Treasury Secretary

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The Washington Post reports that according to Michael Barr, the assistant Treasury secretary for financial institutions, the Treasury Department has been meeting with the White House and the Department of Housing and Urban Development "to develop principles for overhauling Fannie Mae and Freddie Mac" and wind down the bailout. The principles include proposals that would help American families through the downturn -- one, for instance, would "ensure borrowers could still get mortgages even when the private market is no longer offering loans" -- but despite missed deadlines, "So far, Barr said, the administration has been too busy to build out the principles."

Read the whole story at washingtonpost.com

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