Fannie, Freddie Were at Center of Financial Crisis But Are Not Included in Obama’s New Financial Regulations

Friday, June 19, 2009
By Matt Cover

(CNSNews.com) - Fannie Mae and Freddie Mac, the two government-run mortgage giants, are absent from the Obama administration’s sweeping new financial regulations, despite the fundamental role played by both organizations in the financial system’s collapse.

Testifying before the Senate Banking Committee on Thursday, Treasury Secretary Tim Geithner said that the administration’s new regulations were only meant to address the most fundamental issues of the recession.

“We considered a full range of options and decided that now is the time to pursue the essential reforms,â€