Business News | Thu Jul 6, 2017 | 11:40am EDT
U.S. housing finance system 'unsustainable': Fed's Powell
The U.S. housing finance system continues to put taxpayers at risk in a market dominated by government-backed agencies, Federal Reserve Governor Jerome Powell said on Thursday, calling for further reform of an "unsustainable" situation.
A decade after doubts about the creditworthiness of mortgage-backed securities helped trigger the worst financial crisis since the Great Depression, systemic risk remains given the concentration of mortgages in Fannie Mae (FNMA.PK) and Freddie Mac (FMCC.PK), he said.
http://www.reuters.com/article/us-usa-fed-powell-idUSKBN19R20X
