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Article: Fannie Mae Insists Can Weather Economy
- Article from:
- AP Online
- Article date:
- March 10, 2003
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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Dateline: WASHINGTON
Fannie Mae shrugged off charges Monday that it lacks capital to weather
disruption to financial markets, saying its standards allow it to
endure "the most difficult stress scenarios faced by our nation over
the last century."
Fannie Mae said no other company in the United States faces more stringent
requirements for maintaining its soundness than it does.
Earlier Monday, St. Louis Federal Reserve President William Poole
told federal regulators with oversight of Fannie Mae and Freddie Mac,
which together control 42 percent of all U.S. home mortgages, that
their combined size is big enough to threaten the economy.
He called on regulators ...