NEW YORK CITY-The Obama administration and financial industry allies have suggested that the federal government needs to take control of the mortgage market. Experts call for more federal intervention since the mortgage market cannot break itself from government-backed mortgage monsters, who own debt of about $5 trillion.
Market experts proposed to combine Fannie Mae, Freddie Mac and other agencies into a single federal office in order to move the debt to the federal budget. For the full story, go to Christian Science Monitor.
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