Last week, Federal Reserve Chairman Alan Greenspan delivered a double whammy to Fannie Mae and Freddie Mac.

Speaking before a group of credit union executives on Monday, he questioned whether fixed-rate mortgages - a staple Freddie and Fannie product - are a good choice for consumers. During his testimony before the Senate Banking Committee later in the week, he slammed the mortgage lenders again when he hit on sensitive topics such as potential future systemic risk involving the two agencies and GSE privatization. He also suggested curbing Fannie's and Freddie's ability to issue debt and purchase assets.

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