Hank Paulson: Supporting Fannie and Freddie In Their Current Form

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Treasury Secretary Hank Paulson has now spoken up about the story in the New York Times regarding "contingency planning" for Fannie Mae and Freddie Mac. The official statement makes no mention of a possible bailout or taking them into conservatorship. He emphasized that the Treasury is supporting both companies "in their current form."
"Today our primary focus is supporting Fannie Mae and Freddie Mac in their current form as they carry out their important mission," Paulson said in the short statement just released. "We appreciate Congress' important efforts to complete legislation that will help promote confidence in these companies. We are maintaining a dialogue with regulators and with the companies. OFHEO will continue to work with the companies as they take the steps necessary to allow them to continue to perform their important public mission."

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