Are Fannie and Freddie Even Necessary?

Tuesday, 17 Aug 2010 | 6:10 AM ET

Treasury Secretary Tim Geithner and Housing and Urban Development Secretary Shaun Donovan are hosting a summit to fix Fannie Mae and Freddie Mac , where Industry leaders will offer their ideas on how to fix the mortgage behemoths.

Since Fannie and Freddie were placed under government conservatorship in September 2008, the two companies have set aside $171 billion for credit losses and requested $148 billion in taxpayer aid.

Are they even viable anymore? Do you think Fannie and Freddie are necessary? Share your opinion below:

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  • Showtimes

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  • Carl Quintanilla is an Emmy-winning reporter and co-anchor of CNBC's "Squawk on the Street," broadcast live from the NYSE.

  • Simon Hobbs co-anchors the 10 a.m. hour of CNBC's "Squawk on the Street" live from the New York Stock Exchange.

  • Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

  • Co-anchor of CNBC's "Squawk on the Street," David Faber also is a co-producer of CNBC's original documentaries.

  • Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.