WASHINGTON — Support for carving up Fannie Mae and Freddie Mac into separate good and bad banks lasted less than 24 hours, with the Obama administration insisting this is not its plan and critics arguing the idea was complex and a tough political sell.

White House Press Secretary Robert Gibbs flatly denied press reports that the administration was pursuing such a plan, calling it "light years ahead of any decision-making process here." Another administration official, speaking on condition of anonymity, said the idea was one of many, including privatization or permanent nationalization, and that no solution had emerged as a front-runner.

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