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Fed’s Poole: No Guarantee of Government Bailout if GSEs Fail 

Continued lack of reform at both Fannie and Freddie has left the U.S. economy exposed, St. Louis Fed president Bill Poole said on Wedneday. Poole provided a tough-language address on Jan. 17 about the risks to financial stability posed by government-sponsored enterprises like Fannie Mae and Freddie Mac, and took a hard line against what he said was a lack of genuine progress in reining in the activities of the two largest GSEs.