Monday, September 15, 2008

Greenspan: Fannie & Freddie Should Not Exist

That's what he told Bartiromo during this video interview.

He also said that the they represent a "flawed economic model, essentially an institution that socializes losses while privatizing gains, a type of institution that should not exist in a competitive market environment, an accident waiting to happen."

He goes on to recommend that the opportunity should be used to slice and privatize them. I hope somebody in Washington is listening.

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