The Washington Post reports:
The White House on Thursday played down internal discussions of creating a government-backed "bad bank" to take hundreds of billions of dollars in troubled loans off the books of mortgage-finance giants Fannie Mae and Freddie Mac.
"The story out today is light years ahead of any decision-making process here," White House Press Secretary Robert Gibbs told reporters, referring to a story Thursday in The Washington Post. "Safe to say that many senior administration economic officials learned of this proposal sometime this morning at the foot of their driveway."
