The Real Deal Miami

Paulson’s rescue plan for Fannie, Freddie gets support

July 17, 2008 12:20PM

House Republican Leader John Boehner is confident that a federal rescue plan for Fannie Mae and Freddie Mac will be approved soon. After a testy meeting between Congressional Republicans and Treasury Secretary Henry Paulson, the secretary also voiced his confidence in the deal, which is part of a larger housing rescue package. Many Republican representatives oppose the plan to give the Treasury Department temporary authority to buy into the mortgage giants or give loans to them. Representative Scott Garrett of New Jersey and others say it amounts to giving the administration a blank check.