Paulson: GSE Action Critical

Not a registered member yet? Sign-up for Financial-Planning.com today and take advantage of our exclusive member-only features. Treasury Secretary Henry Paulson yesterday strongly urged Congress to act quickly to pass legislation that would create a new regulator and enable the Treasury to be a financial backstop for Fannie Mae and Freddie Mac, warning that such action is critical to restoring public confidence in the two secondary mortgage market giants. We're not going to do something we're going to regret," he said, telling Paulson he will have to provide more details of some aspects of the proposals. Dodd told Securities and Exchange Committee chairman Christopher Cox that he wants SEC officials to review the Treasury proposals. Meanwhile, Sen. Robert Casey, D-Pa., tried to use the Treasury proposals as leverage to get the Bush administration to rescind its veto threat against the housing legislation passed by the Senate. You tell the president that if this is to be enacted, h...
Originally from: http://www.financial-planning.com/asset/article/625711/paulson-gse-action-critical.html?pg=

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