In May of 1998 we held a conference dedicated to two Government-sponsored Enterprises (GSEs) – Fannie Mae and Freddie Mac. In my statement to that assembly, I noted that both corporations had been enjoying good times, but cautioned that one of the unintended consequences of fat profits over a long period is the tendency of both government and private corporations to start believing in the fantasy of ever-rising profits. GSEs often escape the accountability that Congress or regulatory agencies should impose. Read more.
Paris will maintain a ban on gatherings on promenades along the Seine river, the lawns of Les Invalides and the Champs de Mars around the Eiffel Tower in efforts to curb the spread of coronavirus, police said on Monday. Read more.