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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: reaper who wrote (219270)2/6/2003 2:15:23 PM
From: Israel  Read Replies (2) of 436258
 
.....

Sources familiar with the situation said Armando Falcon Jr., head of the Office of Federal Housing Enterprise Oversight, was asked by administration officials for his resignation Tuesday morning.

That was just hours before Falcon released the findings of a "systemic risk" study, which laid out a scenario in which Fannie Mae and Freddie Mac could experience severe financial difficulties that then would cause wide-ranging disruptions in the housing and financial markets.

Later Tuesday, the White House announced that it wanted to fill the spot with Brickell, chief executive of Blackbird Holdings Inc., an electronic trading system for financial derivatives. Brickell is known as an avid advocate of free markets and deregulation, a philosophy he shares with friends such as former senator Phil Gramm and his wife, Wendy Gramm, a former director of Enron Corp.

this really.. really stinks..

Israel
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