HUFFINGTON
11.04.12
VICTOR J. BLUE/BLOOMBERG VIA GETTY IMAGES
FEATURE_TITLE
would do differently. Previously,
during the Republican nominating process, he had said that he
thought the best course was to let
the market work it all out.
The White House did not respond to a request for comment.
Neither did Geithner. But in July,
the Treasury Secretary, who has
said he will leave at the end of
Obama’s first term, whether he
wins reelection or not, spoke to
Charlie Rose. Rose asked him if
there was anything else the administration could have done to
stop the foreclosure crisis.
In his response, Geithner
blamed Fannie and Freddie for
not moving earlier on the program
that allows some underwater
homeowners refinance at a lower
interest rate. He didn’t mention
the more prominent modification
program, and he didn’t mention
principal reduction. All in all, he
said, the administration had done
what it could with the tools it
had, he said.
“Our job is to make sure that we
are operating at the frontier with
the tools we had, he said. “And I
believe we did that. I really
believe we did that.”
Signs are
displayed
outside of a
foreclosed
home in
Greensboro,
N.C.