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Greenspan urges tighter controls on Fannie and Freddie holdings
Fed chair Alan Greenspan urged Congress to restrict the massive portfolios of Fannie Mae and Freddie Mac to protect financial markets. Legislation would create a strong regulator and require asset sales if misaligned with homeownership goals. Stocks rose on the day as lawmakers debated balance sheet limits amid accounting scandals.
MENTIONED IN THIS ARTICLE
Washington, D.C
Federal Reserve
Alan Greenspan
Congress
Fannie Mae
Freddie Mac
U.S
Fed
Senate Banking, Housing and Urban Affairs Committee
Greenspan
Sen
Charles Schumer