• Return to Headlines

Bank of New York Mellon CEO Says Government Should Exit Mortgage Market (BK,FNM,FRE)

Written on Fri, 03/12/2010 - 3:18pm
By Chip Brian

3/12/2010-Bank of New York Mellon's (NYSE:BK) chairman and CEO Robert Kelly said Thursday that the U.S. government should end its ownership of mortgage financiers Fannie Mae (NYSE:FNM) and Freddie Mac (NYSE:FRE) and establish the power to dismantle large banks, American Banker reported Friday.
Kelly said Thursday in a speech in Washington that the government should exit the mortgage business because its involvement "creates too many distortions and potentially bad behavior."

Keywords: Bank new york mellon freddie fannie mortgage Stock

Ticker(s): BK FNM FRE

Contact Chip Brian



Smartrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.mysmartrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at http://www.mysmartrend.com/morning-call-newsletter-signup.