facebook
twitter
rss
account
search
search
 

Paulson: Government is too deep in housing

Feb. 24, 2010 at 2:42 PM   |   Comments

| License Photo
CHICAGO, Feb. 24 (UPI) -- Former U.S. Treasury Secretary Henry Paulson Jr. said with the financial crisis abating, the government was too deeply invested in the housing market.

At the University of Chicago Tuesday, Paulson said it was "highly likely" that the Federal Home Loan Mortgage Corp. and the Federal National Mortgage Association would be restructured, as the government retreats from its position in the market.

"We very much need Fannie (Mae) and Freddie (Mac) to get us through this crisis," he said.

Paulson said, "the major decisions we (the George W. Bush administration) made were the right ones."

But he also said, "I don't think anybody believes that the government essentially guaranteeing all our mortgages is right or sustainable."

"They should at a minimum be scaled way back," he said.

© 2010 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
ATM fees on the rise, again ATM fees on the rise, again
2
First A-29 rolls off Florida assembly line for USAF program First A-29 rolls off Florida assembly line for USAF program
3
Babcock conducting refit, maintenance of mine-hunter vessel Babcock conducting refit, maintenance of mine-hunter vessel
4
Navy orders more Block IV Tomahawk cruise missiles Navy orders more Block IV Tomahawk cruise missiles
5
Saab to overhaul Navy submarine; supply remotely operated vehicles Saab to overhaul Navy submarine; supply remotely operated vehicles
Trending News
x
Feedback