Lets guess they neither ADMIT nor DENY…as it always goes.
But hmmm…
“a settlement would represent the most significant acknowledgement yet … they [GSEs] played a central role”
Deal Time-
Regulators are nearing a settlement with Fannie Mae and Freddie Mac over whether the mortgage finance giants adequately disclosed their exposure to risky subprime loans, bringing to a close a three-year investigation.
The proposed agreement with the Securities and Exchange Commission, under the terms being discussed, would include no monetary penalty or admission of fraud, according to several people briefed on the case. But a settlement would represent the most significant acknowledgement yet by the mortgage companies that they played a central role in the housing boom and bust.
Wednesday, December 1, 2010
09:30 AM – 01:00 PM
538 Dirksen Senate Office Building
The witnesses for Panel I will be: Ms. Phyllis Caldwell, Chief, Homeownership Preservation Office, United States Department of the Treasury; The Honorable Sheila C. Bair, Chairman, Federal Deposit Insurance Corporation; The Honorable Daniel K. Tarullo, Governor, Board of Governors of the Federal Reserve System; Mr. John Walsh, Acting Comptroller of the Currency, Office of the Comptroller of the Currency; and Mr. Edward DeMarco, Acting Director, Federal Housing Finance Agency. The witnesses for Panel II will be: Mr. Terry Edwards, Executive Vice President, Credit Portfolio Management, Fannie Mae; Mr. Donald Bisenius, Executive Vice President, Freddie Mac; Mr. Tom Deutsch, Executive Director, American Securitization Forum; and Professor Kurt Eggert, Professor of Law, Chapman University School of Law.
Individuals with disabilities who require an auxiliary aid or service, including closed captioning service for webcast hearings, should contact the committee clerk at 202-224-7391 at least three business days in advance of the hearing date.
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