what levers do administration remains to address housing mess and credit crunch

--Citigroup's bail out of its SIVs portrayed the failure of agency sponsored program of Master Enhanced Liquidity Conduit. --Alternatively, Do nothing. Otherwise, it will delay the point investors believe prices have touched bottom. --Freeze on ARM. How to identifiy those who are deserving saving? --Expand Freedie and Fannie's roles. They can contributed limitedly since expectations of more more red ink forced them to raise capital. If they can report their books timely in Feb, Office of Federal Housing Enterprise Oversight, or Ofheo, might lower their capital ratio, scaling back 30% capital required --Federal Housing Administration which insures home mortgages against the risk of default. The legislation, supported by the White House, would raise limits on the size of mortgages the FHA can insure. The current limit of $362,790 would rise to $417,000. --