The Obama administration is showing reluctance to reform the troubled mortgage agencies Fannie Mae and Freddie Mac, says House Financial Services Chairman Spencer Bachus, R-Ala. He made his comments after the White House missed a Jan. 31 deadline for its report on housing finance reform, The Hill reports.

The delay proves the Obama administration "cannot make any tough choices required to protect taxpayers and end the bailout of Fannie and Freddie," says Bachus, whose committee will be a major player in restructuring the government’s role in housing.

"Taxpayers do not need more empty promises for reform, they need a real plan to stop the administration and Treasury Department from throwing more taxpayer dollars down the Fannie and Freddie rat hole."