Parsing Paulsonspeak
July 11, 2008
Greg Newton submits:
The Hank and Ben Show went before Congress yesterday, ostensibly to talk about plans for the alleged modernized financial regulatory structure. But with former Federal Reserve Board governor Bill Poole having so recently thrown around the insolvency word, the evil twins Phony and Fraudy (© Barry Ritholtz) got their share of their attention:
Fannie Mae and Freddie Mac are also working through this challenging period…Their regulator has made clear that they are adequately capitalized.
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