According to Bloomberg, which seems to be the free internet financial news provider of record these days, "President George W. Bush said Fannie Mae and Freddie Mac must complete a ``robust reform package'' before the government will allow the two largest mortgage finance companies to buy home loans beyond current federal limits.
Congress needs to get the companies ``reformed, get them streamlined, get them focused, and then I will consider other options,'' Bush told a White House news conference today in response to a question about whether the two companies would be allowed to buy more mortgages to help spur the housing market. "
That's the right move, Mr. President. No bailouts for bogus loans or folks whose eyes were bigger than their wallets.
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