Freddie, Fannie Failure Could Be World `Catastrophe,’Yu Says
2008-08-26 — bloomberg.com
“If the U.S. government allows Fannie and Freddie to fail and international investors are not compensated adequately, the consequences will be catastrophic,” Yu said in e-mailed answers to questions yesterday. “If it is not the end of the world, it is the end of the current international financial system.”
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