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Former Federal Reserve chairman Alan Greenspan offered a bit of optimism about the housing market in an interview this week with David Wessel of the Wall Street Journal. Greenspan said that he expects housing prices to begin to stabilize in the first half of 2009 although they could continue to drift...
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Speaking in an interview with NBC on Saturday, U.S. Treasury Secretary Henry Paulson said government had no plans to inject capital into Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Max despite poor earnings reports from both institutions in the second quarter. Last week, Fannie Mae...
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Speaking at the New York Public Library, U.S. Treasury Secretary Henry Paulson said Fannie Mae and Freddie Mac are vital to the U.S. financial system, and that he remains confident Congress will pass GSE legislation sometime this week. "Because of their size and scope, Fannie and Freddie stability is...
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Speaking in multiple interviews over the weekend, U.S. Treasury Secretary Henry Paulson continued to push for his plan to provide an unlimited line of credit to government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac to prevent the institutions from going under. Fannie and Freddie are "very...
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Speaking to the Senate Banking Committee as part of the Humphrey-Hawkins testimony, Treasury Secretary Henry Paulson said government-sponsored enterprises (GSEs) need a strong regulator. "Market stability and support for housing finance are among my highest priorities during this time of stress in our...
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The U.S. government flew to the rescue of GSEs Fannie Mae and Freddie Mac over the weekend with Treasury Secretary Henry Paulson announcing that the government would increase the failing bond insurers' line of credit, have the temporary ability to purchase equity and that the Fed would be available to...
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The U.S. economy "has turned down sharply" according to U.S. Treasury Secretary Henry Paulson, speaking to the Council of Institutional Investors in Washington, D.C. on Thursday morning. He said the greatest risk to the economy was the housing sector. However, Paulson noted some positive developments...
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Treasury Secretary Henry Paulson announced Monday that he was in favor of temporarily lifting the dollar limit on loans purchased by Freddie Mac and Fannie Mae, allowing them to provide a market for so-called " jumbo mortgages ." Under current rules, the two government sponsored enterprises (GSEs) cannot...
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Several Executive Branch surrogates indicated late last week that the Administration was sort of willing to compromise about the role of Freddie Mac and Fannie Mae in solving the current credit crunch. But the announcements made and the methods proposed seem to this reporter to be little, late, and misdirected...