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| -Lurid Crime Tales- |
| SEC charges former Freddie, Fannie execs with fraud |
| 2011-12-16 |
| The Securities and Exchange Commission today charged six former top executives of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) with securities fraud, alleging they knew and approved of misleading statements claiming the companies had minimal holdings of higher-risk mortgage loans, including subprime loans. |
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| #10 Gorelick and Raines were not appointed by the Bush Administration but rather by Clinton. From Wikipedia: Deputy Attorney General under Bill Clinton .... Gorelick was appointed Vice Chairman of Federal National Mortgage Association (Fannie Mae) from 1997 to 2003. She served alongside former Clinton Administration official Franklin Raines. Bush had no authority to remove her from her position at Fannie Mae and would have faced massive resistance if he had tried. |
| Posted by: lotp 2011-12-16 18:28 |
| #9 Don't forget Christopher Dodd. |
| Posted by: CrazyFool 2011-12-16 18:26 |
| #8 Above all, Jim Johnson. |
| Posted by: Nimble Spemble 2011-12-16 17:48 |
| #7 Yup, when I see Gorelick, Raines, Johnson and Barney Frank indicted then I'll know the SEC is serious. Until then it's the sideshow at the circus. |
| Posted by: Steve White 2011-12-16 17:47 |
| #6 Jamie Gorelick Franklin Raines |
| Posted by: Frank G 2011-12-16 16:44 |
| #5 Well maybe not a few Presidents. I'm thinking of Carter and Clinton. |
| Posted by: JohnQC 2011-12-16 16:27 |
| #4 The SEC needs to go a little deeper. There are other former Fannie and Freddie execs. who should be charged for the debacle they brought us--a few Congressmen and Presidents too. |
| Posted by: JohnQC 2011-12-16 16:24 |
| #3 Skidmark, are you saying they were Bush appointees or not? Wouldn't be surprised. This, IMHO, is one of the reasons why we now have the Tea Party. People couldn't understand why Republicans weren't screaming to have Fannie and Freddie shut down from the git go. Government tinkering with the housing market and you wonder why it all went to hell? Michelle Bachman was ripping Newt to shreds last night for his involvement with the "Government Sponsored Enterprises". His responses were not as convincing as I would have liked them to be. Government, IMHO, has no business sponsoring the likes of Fannie and Freddie. |
| Posted by: Ebbang Uluque6305 2011-12-16 14:52 |
| #2 Had to work up the data showing they were Bush appointees. |
| Posted by: Skidmark 2011-12-16 14:39 |
| #1 It's about time. |
| Posted by: newc 2011-12-16 12:41 |