Barbara Streisand May Direct New Film

(CBS News) Barbra Streisand is eying a return to directing for the first time 16 years.

According to Reuters, the 70-year-old singer/actress wants to direct the love story "Skinny and Cat," about late writer Erskine Caldwell and his late wife, American photojournalist Margaret Bourke-White. Reuters reports that Oscar-winning stars Colin Firth and Cate Blanchett are in talks to play the leads.

Pictures: Barbra Streisand
Streisand has one problem though: financing issues. Her spokesperson said the project currently doesn't have the backing.

If the project does get off the ground, though, it would be Streisand's first time behind the camera since 1996's "The Mirror Has Two Faces."