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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk
SOXL 44.21+1.2%Dec 24 4:00 PM EST
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To: GROUND ZERO™ who wrote (3421)7/16/2002 5:50:02 PM
From: Chip McVickar  Read Replies (1) of 207447
 
DJ. Greenspan/GSEs -2:Tsy's Fisher Testifying On GSEs Tuesday

WASHINGTON (Dow Jones)--Federal Reserve Chairman Alan Greenspan on Tuesday
said the issue of disclosure among government-sponsored enterprises needs to be
examined further.

GSEs, such as Fannie Mae and Freddie Mac, are exempt from the registration
and periodic reporting requirements of the federal securities laws.

However, Fannie Mae and Freddie Mac announced an agreement Friday with
federal regulators to voluntarily register their common stock with the
Securities and Exchange Commission and adhere to federal corporate disclosure
requirements starting next year.

The issue of GSEs and disclosure arose when Greenspan was asked whether the
Tennessee Valley Authority, now exempt from SEC jurisdiction, should continue
to be exempt.

Greenspan said he wasn't familiar with the TVA issue, but noted that
Treasury's Undersecretary for Domestic Finance Peter Fisher would be testifying
about GSEs later Tuesday.

"I do not know what the consequences of the testimony are this morning, but I
do think that issues such as you raise should be examined to determine what the
appropriate role of GSEs and related organizations are with respect to
questions of disclosure," said Greenspan, answering questions from the Senate
Banking Committee after delivering his semiannual report on the economy.
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