Regulators sue former top Fannie, Freddie execs

Categorized | STOP FORECLOSURE FRAUD

Regulators sue former top Fannie, Freddie execs

Regulators sue former top Fannie, Freddie execs

Just more of the same, except they still hold millions from the fraud!

Looks like taxpayers will also be picking up this tab!

 

Reuters-

Six former top executives at Fannie Mae and Freddie Mac were sued by U.S. regulators on charges of misleading investors about the mortgage finance companies’ exposure to risky home loans in the run-up to the 2008 financial crisis.

The case is one of the U.S. Securities and Exchange Commission’s biggest actions against high-level financial industry executives, although the regulator did not specify a dollar amount for damages in the alleged fraud. Many lawmakers consider Fannie Mae and Freddie Mac at least partly responsible for the 2008 crisis, saying they encouraged lax lending to home buyers that led to a massive real estate bubble.

[REUTERS]

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