Fannie Mae and Freddie Mac should eventually be abolished and the government should cut back its role in the housing market while financial institutions should hold more capital.
Those are among the recommendations of a report issued today by the U.S. Treasury Department and the Department of Housing and Urban Affairs.
The government's main role should be limited to "robust" oversight, protecting consumers and targeted help for low- and moderate-income Americans and "carefully designed" market support.
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