By Michael R. Crittenden
Of DOW JONES NEWSWIRES
WASHINGTON -(Dow Jones)- The Obama administration plans to early next year beginning outlining different options for what to do with mortgage finance firms Fannie Mae (FNM) and Freddie Mac (FRE), Treasury Secretary Timothy Geithner said Thursday.
Geithner, appearing before the House Financial Services Committee, said he is looking forward to a discussion with Congress about the future of the two firms. Republicans in Congress have agitated to have Fannie Mae and Freddie Mac provisions included in the administration's regulatory overhaul legislation, but have thus far been rebuffed.
Responding to questions from Rep. Jeb Hensarling (R., Texas), Geithner said policymakers do need to address what to do with the two government-sponsored enterprises.
"The system we have in place we cannot live with going forward," Geithner said.
-By Michael R. Crittenden, Dow Jones Newswires; 202 862 9273; michael.crittenden@dowjones.com