James Lockhart, vice chairman for WL Ross & Co. and former head of the Federal Housing Finance Agency, talks about the Treasury Department's proposal to wind down government mortgage lenders Freddie Mac and Fannie Mae.
Treasury Secretary Timothy F. Geithner presented Congress with a set of options for weaning the $11 trillion mortgage market from its dependence on the government, while calling for changes to be phased in “responsibly and carefully” to avoid economic disruptions. Lockhart speaks with Scarlet Fu and Peter Cook on Bloomberg Television's "InBusiness." (Source: Bloomberg)
Running time 03:38
-0- Feb/11/2011 19:55 GMT