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Article: Freddie Mac, Fannie Mae Not an 'Oligopoly,' CEO Says
- Article from:
- The Washington Post
- Article date:
- July 16, 2005
- Author:
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Richard F. Syron, chief executive of mortgage company Freddie Mac,
said yesterday that his company and its larger rival, Fannie Mae, are
no longer the "oligopoly" they once were and should not be
overwhelmed with new federal regulations.
Syron, head of Freddie Mac since 2003, made his remarks at a
shareholder meeting in McLean. His comments came as Congress
considers legislation to tighten regulation of Fannie Mae and Freddie
Mac after recent accounting scandals. The House Financial Services
Committee passed a bill in May. The Senate Banking Committee is to
take up a companion measure late this month.
Congress and the White House are still debating how strict the new
regulations should ...