A US Treasury Department plan to rehabilitate mortgage giants fannie mae and freddie mac more than a decade after they teetered on the verge of collapse was last week criticised for being thin on details and not going far enough. The plan asked a divided US Congress to do most of the heavy lifting of getting the companies out from under government control and back on their feet. Indeed, leaving Congress to create a new scheme for Fannie and Freddie is being dismissed by many as no plan at all.
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