Good idea, if that is their only goal. But it is not:

“This is a plan for fundamental reform — to wind down the GSEs, strengthen consumer protection and preserve access to affordable housing for people who need it,” Geithner said in a statement accompanying the report.

Their plan is a bait-and-switch. Out with the old, unpopular GSEs (government-sponsored-enterprises), and in with some other soon to be unveiled government bureaucracy.