Greenspan Says Fannie Mae (FNM) And Freddie Mac (FRE) Need To Be Broken Up
Today, on CNBC, Alan Greenspan said Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE FRE) need to be broken up. Greenspan said it is not right for a company to be quasi-private and public. When the GSE's do well, they earn the profit, but if there is trouble, then taxpayers are on the hook. He says that policy is just not fair and the GSE's need to be nationalized. He additionally said Fannie and Freddie are a major accident waiting to happen.
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