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Microcap & Penny Stocks : Rat dog micro-cap picks--now moderated -- Ignore unavailable to you. Want to Upgrade?

To: manny t who wrote (139)	2/24/2004 10:23:29 AM
From: Bucky Katt	Read Replies (1) \| Respond to of 1338

WASHINGTON -- Mortgage giants Fannie Mae and Freddie Mac could pose a threat to the financial system, according to Federal Reserve Chairman Alan Greenspan. Mr. Greenspan called on Congress Tuesday to impose stringent restrictions on the ability of Fannie Mae and Freddie Mac to issue debt and purchase assets, saying the growth of the institutions poses a risk to the safety of the U.S. financial system. "The Federal Reserve is concerned about the growth and the scale of the [government-sponsored enterprises'] mortgage portfolios, which concentrate interest and prepayment risks at these two institutions," Mr. Greenspan said in written testimony to the Senate Banking Committee. Although he said he didn't think a crisis was imminent, "preventative actions are required sooner rather than later." "GSEs need to be limited in the issuance of GSE debt and in the purchase of assets, both mortgages and non-mortgages, that they hold," he added in the written testimony. So one minute everything is just ducky, and the next minute maybe not.... Hmmm.