Clearing Out Fannie's 'Phantoms'

Fannie Mae and Freddie Mac need stronger regulation so they don't threaten the US financial system.
September 30, 2004, 9am PDT | Chris Steins | @urbaninsight
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"The federal regulator that oversees home-mortgage giant Fannie Mae finally persuaded that government-sponsored enterprise to agree to clean up its questionable accounting practices...

The two housing giants enjoy privileges for low-cost borrowing that are the envy of banks... If Fannie and Freddie are allowed to grow unchecked, Mr. Greenspan warns, their possible failure could threaten the U.S. financial system."

Thanks to Chris Steins

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Published on Thursday, September 30, 2004 in The Christian Science Monitor
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