Leave it up to Abigail to set the record straight!

Abigail C. Field-

The SEC has sued former executives of Freddie Mac and Fannie Mae for repeatedly lying to investors about their companies’ subprime portfolios. The complaints are very detailed and strong, alleging multiple securities law violations and violations of Sarbanes-Oxley. The complaints try to force the executives to give up their ill-gotten gains, pay penalties, and ban them from being a director or officer of a public company. Interestingly, the complaints are backed by separate cooperation and nonprosecution agreements with each company.

[REALITY CHECK]

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