Wall Street Roundup: Banks hiding risk. Greek debt fears

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Banks hiding risk. The big banks have been playing with their balance sheets to hide the risk levels they report to the public, according to a Wall Street Journal analysis of figures from the New York Federal Reserve.

Greek debt fears. The European stock market fell on Friday as fears about Greece’s financial situation grew. Yields on Greek bonds reached a historic high.

Focus on Fannie and Freddie. The financial crisis hearings in Washington move their focus to the mortgage giants, after Thursday’s grilling of former Citigroup executives. A top regulator is expected to explain that Fannie and Freddie were hurt by their unusual public-private business model.

-- Nathaniel Popper in New York