Where is Obama's Plan for Fannie and Freddie?

President Obama
President Obama

Next Tuesday, March 2, was a date I'd eagerly marked on my calendar. The House Financial Services Committee, chaired by Rep. Barney Frank (D-MA), was supposed to hold a hearing on "Housing Finance and the Path to Reform, Part 1-Government and Stakeholder Perspectives."

To translate that for the rest of you, Frank's committee was going to have a serious, public talk about the future of Fannie Mae and Freddie Mac. And it had invited two very special guests: Treasury Secretary Tim Geithner and U.S. Department of Housing and Urban Development Secretary Shaun Donovan.

So I was disappointed, but not surprised, to get an email yesterday announcing that the hearing had been "postponed to a date and time to be announced later." Yet again, the Obama administration has wiggled out of an obligation to tell the American people exactly what it envisions the home finance system of the future will actually look like.