Geithner: Financial Rules Have Strengthened System
Treasury Secretary Timothy Geithner is pushing back against critics of the 2010 financial overhaul, saying tighter regulations are making the financial system stronger and safer.
He also says the administration hopes to make progress this year in its efforts to wind down mortgage giants Fannie Mae and Freddie Mac.
Geithner says a white paper the administration put out a year ago outlined several options and the administration hopes to provide more details around various approaches this spring. He says the administration planned to work on exploring options for legislation more intensively with leaders of the House and Senate financial committees.
Geithner says the administration’s goal is to wind down Fannie and Freddie and bring private capital back into the housing market.
(Copyright 2012 by The Associated Press. All Rights Reserved.)