Obama: Time to 'Wind Down' Fannie Mae, Freddie Mac

In his weekly address, President Barack Obama touts the recovery of the U.S. housing market and urges Congress to give homeowners a chance to refinance their mortgages. The President suggests lawmakers should be “winding down” the influence of government-sponsored enterprises Fannie Mae and Freddie Mac and “ending the era of expecting a bailout after your pursuit of profit puts the whole country at risk.”