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Greenspan sets 2009 for housing arousing

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News - Financial News

Written by Hugh McManus

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Former Federal Reserve Chairman Alan Greenspan stated that he expects US housing prices will stabilize in the first half of 2009.   Greenspan continue to criticize the government's bail out of mortgage titans Freddie Mac and Fannie Mae.   In an interview with the Wall Street Journal, Greenspan stated that "They should have wiped out the shareholders, nationalized the institutions with legislation that they are to be reconstituted... as five or 10 individual privately held units."  Greenspan was also critical of the Fed's intervention to support Bear Sterns. < Prev   Next >