Seattle Times (08/01/08); Matthews, Steve
Former Federal Reserve Chairman Alan Greenspan said in a July 31 interview on CNBC that he expects U.S. home prices to fall much further. Home prices are "nowhere near the bottom," the economist declared. He also called Fannie Mae and Freddie Mac a "major accident waiting to happen," arguing that the mortgage finance giants should be nationalized. Such a move should involve an infusion of taxpayer money and a sale back to the market as "five or 10 separate entities," he said.
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