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TheStreet Open House

Words of Wisdom for Fannie and Freddie

WASHINGTON ( TheStreet) -- Leaders in the mortgage market gathered in Washington, D.C. yesterday to discuss the future of government-sponsored entities Fannie Mae and Freddie Mac.

Treasury Secretary Timothy Geithner (pictured above) officially said on Tuesday that the Obama administration was preparing to drive the final nail into the coffin of the Fannie-Freddie model of housing finance. However, "reform...is about more than designing an elegant funeral for Fannie and Freddie," he said. "It requires a broader reassessment of how much support the government should provide for housing finance.

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