President Obama promotes mortgage reform

President Barrack Obama presented ideas for mortgage reform at a rally in Phoenix. His major revision would be phasing out Fannie Mae and Freddie Mac which received  $187 billion from the stimulus package The push is to make private lender share more of the risk rather that the government through Fannie and Freddie. The government would still be involved in oversight and as a last resort loan guarantor. His proposals are consistent with the recommendations of Democratic Senator Mark Warner, a Democrat, and Senator Bob Corker, as Republican who have been working together to bring reform.