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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Mannie who wrote (8553)	2/24/2004 11:16:22 AM
From: Mannie	Respond to of 110194

Greenspan warns on Fannie, Freddie Fed chairman says mortgage financers could threaten financial system if they grow unchecked. February 24, 2004: 10:26 AM EST WASHINGTON (Reuters) - Federal Reserve Chairman Alan Greenspan urged lawmakers Tuesday to curb the growth of Fannie Mae and Freddie Mac, warning if the housing finance giants keep growing unchecked, they likely will threaten the U.S. financial system. "Most of the concerns associated with systemic risks flow from the size of the balance sheets that these GSEs (government-sponsored enterprises) maintain," Greenspan said in testimony prepared for the Senate Banking Committee. "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. money.cnn.com