Federal Reserve Chairman Alan Greenspan urged Congress Wednesday to limit the size of the multibillion-dollar portfolios held by mortgage giants Fannie Mae and Freddie Mac, warning that simply creating a strong regulator would not suffice.
“World class regulation, by itself, may not be sufficient,” Greenspan said in prepared remarks to the Senate Banking Committee.
A debate over the appropriate regulation of the two mortgage titans has taken on heightened scrutiny in the wake of accounting scandals at both Fannie Mae and Freddie Mac.
For this complete story, please visit Greenspan Wants Portfolio Size Limits for Fannie, Freddie.
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