This should make every American’s blood boil. The government is devoting taxpayer resources to pursue these claims in court. The public is entitled to know the results. It’s that simple.
Bloomberg–
The conservator for Fannie Mae (FNMA) and Freddie Mac was eager for publicity in September 2011 when it sued 17 financial institutions, accusing them of ripping off the two government-backed housing financiers. It isn’t so enthusiastic anymore.
This week the U.S. Federal Housing Finance Agency told a federal judge it had settled its case against Citigroup Inc. (C) The agency won’t say how much money Citigroup is paying. Neither will Citigroup, which survived the financial crisis only because it got multiple taxpayer bailouts. The parties agreed to keep the terms confidential. The government has decided this is none of the public’s business.