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White House Preps Fannie, Freddie Bill

By Reuters
Thursday, 10 Jul 2008 | 11:32 AM ET

The White House remains focused on passing legislation on Fannie Mae and Freddie Mac that will give confidence to the financial markets, a White House spokesman said Thursday, amid ongoing concerns about the mortgage finance heavyweights' capital levels.

"What we're focused on is getting legislation done for these important institutions, which will give confidence to markets so they can better perform their role," White House spokesman Tony Fratto said when asked whether the administration had discussed what to do if the two government-sponsored enterprises and major sources of mortgage financing falter.

"That's the single most important thing we need to accomplish. We're pleased they've been raising capital so they can continue to serve their role," he added.

Fannie and Freddie Shares Continue to Plunge ...

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