No rush to shut down Fannie, Freddie 

The Obama administration sees the government continuing to play a role in housing finance by providing guarantees on payments to investors in mortgage-backed securities, but does not support resurrecting Fannie Mae and Freddie Mac in their previous form, Treasury Secretary Tim Geithner said today.

Speaking at a government-sponsored conference on housing finance, Geithner indicated there is no rush to shut down Fannie and Freddie, reiterating the administration's previously stated intent to stand behind the companies while their investment portfolios are wound down.

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