No Turning Back on Fannie, Freddie, Lockhart Says

Business Week reports:

The U.S. investment in Fannie Mae and Freddie Mac may be too deep to effectively transition the mortgage-finance companies out of government control and back into the hands of private investors, their former regulator said.

“I would love to figure out how to get there, but I think we may be too far along the line of government involvement,” James B. Lockhart III, who ran the Federal Housing Finance Agency and its predecessor agency from 2006 until August 2009, said in a Bloomberg Television interview today.