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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: ild who wrote (17738)2/24/2004 10:28:27 AM
From: MulhollandDriveRead Replies (3) of 306849
 
hmmm...now what does he think he knows...first he recommends ARM's, now this

10:02am 02/24/04
Greenspan: Congress should limit GSE debt (FNM, FRE) By Matt Andrejczak
WASHINGTON (CBS.MW) -- Federal Reserve Chairman Alan Greenspan said the Fed is concerned about the growth of Fannie Mae and Freddie Mac, the congressionally-chartered mortgage giants. "In essence, the current systems depends on the risk managers at Fannie and Freddie to do everything just right," Greenspan said in prepared remarks to the Senate Banking Committee. "Our financial system would be more robust if we relied on a market-based system that spreads interest rate risks, rather than the current system, which concentrates such risks with the GSEs." Greenspan said Congress, which is weighing a new regulator for Fannie Mae and Freddie Mac, should limit the amount of debt the mortgage giants can hold. He said Congress should create a new regulator on par with other banking regulators with authority to set capital standards.
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