Greenspan says subprime spillover unlikely

Problems facing lenders of risky mortgages are not likely to spill over into the broader economy unless housing prices see another substantial fall, former Fed chairman Alan Greenspan said Thursday 15 March.

"I think it's important to recognize that what we're dealing with ... is more an issue of house prices than it is mortgage credit," Greenspan said at a Futures Industry Association conference in Boca Raton, Fla.

Greenspan said that as home prices dipped, "subprime borrowers have not been ab

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