and the RATS, take another one in the.........HA ha!!!
Posted on 12/16/2011 1:19:10 PM PST by Doogle
WASHINGTON -- The Securities and Exchange Commission has brought civil fraud charges against six former top executives at Fannie Mae and Freddie Mac, saying they misled the government and taxpayers about risky subprime mortgages the mortgage giants held during the housing bust.
Those charged include the agencies' two former CEOs, Fannie's Daniel Mudd and Freddie's Richard Syron. They are the highest-profile individuals to be charged in connection with the 2008 financial crisis.
Mudd, 53, and Syron, 68, led the mortgage giants when the housing bubble burst in late 2006 and 2007. The four other top executives also worked for the companies during that time.
The case was filed in federal court in New York City.
In a statement released through his attorney, Mudd said the lawsuit "should never have been brought" and said the government reviewed and approved all of the company's financial disclosures.
(Excerpt) Read more at foxnews.com ...
Is it really that difficult for some people to distinguish the difference between paid for business consultation and being a paid lobbyist? People see and hear only what they want too! People in this country have simply lost their ability to think for themselves; therefore, they just follow the lastest talking points.
They will be able to afford the best lawyer that money can buy with the huge bonuses that Freddie and Fannie gave them
What the hell about Raines? What about Barney Frank?
Call me when the SEC gets serious.
Ok,
Does this mean the details of Gingrich’s “consultation/history lessons” with Fannie Mae be exposed? I’d like to know the details.
HUMMMM
You have a point, wonder if the only thing that comes out of this is info,docs,e-mails,faxes, whispers at the water cooler about Newt.
HUMMMMM
Or maybe they are trying to get ahead of the “revised” Housing data, that will show what Americans already knew. It was much worse than the msm and Feds led everyone to believe.
Let me know when (as if!) they get around to charging Senator Dodd, Representative Barney Frank, Franklin Raines, James Johnson, and Jaime Gorlick - all the real masters of this disaster. Fat chance from this One World Socialist crew.
Still waiting on Cuomo to get indited....
Did Barney’s former boyfriend get nailed?
Also, I don’t see Franklin Raines listed - Fannie had to restate its reserve by $9 Billion as a result of his activities as Chairmen and CEO - also he got a golden parachute worth $240 million, returning only $50 million as an outcome of an investigation into misleading financial statements. So, $190 million needs to be collected from him, right?
Although, I would imagine that Obama now has some of the Raines parachute funds for the 2012 run.
But, as I read read the charges, it sounds to me like they will just get a slap on the wrist. When oh when are we going to start locking up these criminals?
You are SO RIGHT. They took away millions.
Now we know why Bwaney’s running for cover!
Gingrich paid by Freddie Mac. Fannie Mae’s my headache.
That’s fine, but Barney “Butt-Lovers Popcorn” Frank should be first in this line.
Watch for this to be rammed through before the new republican AG is there to offer plea deals
Who would be hurt right now by a huge Fanny and Freddie scandal? Newt. They're scared to death of Newt (both dems and Rinos). They're going to try to pin this somehow to Newt.
To prove this point, once Newt is taken down by it - it will disappear, just like the Cain bimbos.
Democrats and RINOs both want Romney. They'll work together to make sure he gets the nod, no matter what it takes.
YES!!!!
Now - to prove they did it. Charged is one thing; convicted is another...
Don’t kid yourself that Fannie and Freddie were just innocently forced to do what they were made to do. Fannie Mae under James Johnson had regulations made just for them, the lobbying he did to grow the company was astounding. I wouldn’t be surprised if 90 percent of the blame for the housing debacle couldn’t laid at his feet.
Congress didn’t “force” them to loan money to losers, except in the sense that they lobbied Congress to “force” them.
You really need to read a book about this, it’s fascinating and eye opening how this all happened. Sort of a perfect storm of greed. “Reckless Endangerment” is a good one and there are others.
Merry Christmas to you and yours! W & BJ
These bankers need to be hung from the rafters and these GSE individuals are not the last of the lot. There are plenty more where they came from on Wall St that need to be held criminally accountable and to face capitol punishment for the immense depth of their crimes. There is no excuse that will cover for their corruption and theft of money from others.
Interesting you mention home sales. A few days ago, the National Real Estate Board, or some thing close to it said they overestimated home sales. i.e It appears they were trying prime the pump with false information.
So, I agree, soon we will find out how bad the housing market has actually been.
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