The market brought fundamental change already. It said the company, along with it's loan portfolio, was worthless. The stock went to zero. What's more fundamental than that? $145 billion of taxpayer money was used to buy worthless junk. That's pretty fundamental too. If Fannie and Freddie went public again as trading houses, they could use fictional accounting to recognize huge profits.
Speaking on "Meet the Press" on Sunday on NBC, Treasury Secretary Geithner said the administration's ultimate plan is likely to bring dramatic changes to the mortgage system.
"We're not going to preserve Fannie and Freddie in anything like the current form," Geithner said. "We're going to have to bring fundamental change to that market."
Source:
finance.yahoo.com
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