Wednesday, July 16, 2008

Bernanke says Fannie and Freddie will not fail

"Federal Reserve Chairman Ben Bernanke told Congress Wednesday that troubled mortgage giants Fannie Mae and Freddie Mac are in 'no danger of failing.'

The Fed chief made his remarks to the House Financial Services Committee, his second day on Capitol Hill where he briefed lawmakers on the problems plaguing the economy.

Bernanke appeared amid a backdrop of fading confidence in the U.S. financial system and in the national economy."

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Bernanke says Fannie and Freddie will not fail

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