WASHINGTON - Fannie Mae and Freddie Mac debt shouldn't be treated like Treasury debt, a top House Democrat said Friday.

Rep. Barney Frank (D., Mass.), who chairs the House Financial Services Committee, said in a statement released by his office that it would be a mistake for Congress to do anything that would give debt from the two firms the same legal status as Treasury debt. He does, however, support the Treasury Department's position that it will stand behind debt from the government-sponsored enterprises.

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