President Barack Obama says taxpayers can no longer be on the hook for bad decisions by mortgage lenders. Saying that it's time to overhaul the mortgage finance system to help more Americans afford ... more 
President Barack Obama says taxpayers can no longer be on the hook for bad decisions by mortgage lenders. Saying that it's time to overhaul the mortgage finance system to help more Americans afford homes with less risk to the government, the president proposes to shutter government-backed Fannie Mae and Freddie Mac and give private capital a bigger role in mortgage lending. The United States will hold talks with Russia's defense and foreign ministers in Washington despite Moscow's decision to grant asylum to former U.S. spy agency contractor Edward Snowden, U.S. officials said Rising tax receipts are shrinking the federal deficit, and that will shape the budget debate when Congress returns from vacation next month. The big question for lawmakers: Should they renew, end or modify the tens of billions of dollars in "sequester" cuts in government spending that took effect earlier this year? less 
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Wochit
Tue, Aug 6, 2013 5:03 PM EDT