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Statement by the Press Secretary
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For Immediate Release Office of the Press Secretary July 13, 2008

Statement by the Press Secretary

ÿÿWhite House News


Fannie Mae and Freddie Mac play an important role in our housing finance
system, and they should continue to play this role in their current forms
as shareholder-owned companies.

This evening, after working with the companies, the Federal Reserve, and
other regulators, Treasury Secretary Paulson outlined a plan that we
believe will help add stability during this period. President Bush directed
Secretary Paulson to immediately work with Congress to act on this plan.

It is crucial that Congress quickly works to enact this legislation as a
complete package along with the strong oversight reform legislation
recently passed in the Senate.

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