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To: reaper who wrote (219270)	2/6/2003 2:15:23 PM
From: Israel	Read Replies (2) \| Respond to 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

To: reaper who wrote (219270)	2/6/2003 2:18:44 PM
From: Israel	Read Replies (1) \| Respond to of 436258

one more note from that article.. Sources said that Brickell's nomination has been in the works for a few weeks and that there is growing concern among market regulators and within the White House about the potential risks Fannie Mae and Freddie Mac pose because of their size and concentration in mortgages and related products. But the White House was concerned about the timing of the release of the report, according to sources, because the Bush administration did not want any more bad economic news coming out as it is trying to restore investor confidence. I see.. So its the administrations policy to hide whats really going on just to make us feel better.. This country is in serious shit my friends, next thing you know they'll ban negative news reports in financial publications.. Israel