Greenspan applauds government takeover of Fannie, Freddie

09/10/2008 | CNBC

Former Federal Reserve Chairman Alan Greenspan applauded the U.S. government's bailout of Fannie Mae and Freddie Mac. Greenspan had urged Congress to empower the government with authority to manage large companies in crises to protect taxpayers, although he proposed that the Fed should not be relied on for handling bailouts and that the process needs to be transparent.

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