Geithner Says Fannie, Freddie to Face Major Overhaul

Treasury Secretary Timothy Geithner said the U.S. government needs to reduce its role in housing markets and ensure Fannie Mae (FNM) and Freddie Mac (FRE) won’t require future bailouts. “We will not support returning Fannie and Freddie to the role they played before conservatorship, where they took market share from private competitors while enjoying the perception of government support,” Geithner said in remarks at a housing conference today in Washington.- Bloomberg