Freddie CEO wary of more subprime loans: NYT

(Reuters) - With credit pools drying up "there are some loans that are in difficulty," the Times quoted Syron as saying in a telephone interview.




"There are other loans that probably should never have been made and providing more liquidity will make that situation worse in the long term," Syron told the Times.


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Bear Stearns preparing to oust president: WSJ

(Reuters) - Bear Stearns' board is due to meet on Monday to consider the departure of Spector, who heads up its stock and bond trading operations, the paper said, citing a person familiar with the situation.




Spector, 49, had widely been seen as a candidate to become the firm's next chief executive, the Journal said.


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China warns petrol retailers against hoarding

(Reuters) - China, the world's second-largest consumer of oil, cautioned petrol stations against hoarding and profiteering on Saturday, while urging major gasoline producers to do their best to increase supplies.

Apparently in response to short petrol supplies in some southern Chinese cities, the National Development and Reform Commission aimed its warning at companies engaged in wholesale and retail sales of oil products.


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Dollar tumbles vs yen, Swiss on credit fears

(Reuters) - The dollar tumbled on Friday, hitting two-year lows versus the Swiss franc, as fears about losses in the credit sector intensified after Bear Stearns said fixed-income markets were the worst in more than two decades.

U.S. stocks extended declines after Bear Stearns' Chief Financial Officer Sam Molinaro said on Friday the credit market turmoil and risk aversion may be a worse predicament than the 1980s stock market fall and Internet bubble burst.


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