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Greenspan says subprime risky but helped home ownership

VANCOUVER, British Columbia
Thu Jan 24, 2008 4:49pm EST

VANCOUVER, British Columbia (Reuters) - Former Federal Reserve Chairman Alan Greenspan said on Thursday that subprime mortgages were risky, but they helped broaden home ownership.

Bonds  |  Housing Market

During a speech to a financial audience in Vancouver, Greenspan said subprime mortgages financed an increase in housing among minorities.

Subprime mortgages were risky, but they were worth the risk, he said.

(Reporting by Nicole Mordant and Allan Dowd; Editing by Peter Galloway)
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