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Article: Greenspan Urges Cap on Fannie Mae, Freddie Mac Debt.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- February 25, 2004
CopyrightCOPYRIGHT 2004 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Ken Moritsugu, Knight Ridder Washington Bureau Knight Ridder/Tribune Business News
Feb. 25--WASHINGTON -- Federal Reserve Chairman Alan Greenspan warned Tuesday that the rapid growth of mortgage giants Fannie Mae and Freddie Mac needs to be curbed to head off a major risk to U.S. financial markets and taxpayers.
To date, they haven't threatened the financial system, "but they will almost surely do (so) in years ahead unless some changes are made in the structure of how these organizations function," Greenspan told the Senate Banking Committee.
Fannie Mae and Freddie Mac are private institutions created by the federal government to ...