Friday, December 16, 2011

Ex-Freddie, Fannie Chiefs Sued by SEC

Not surprised at this.  However, Fannie and Freddie were following a failed pushed by the federal government to make "everyone a homeowner".
“This action arises out of series of materially false and misleading public disclosures,” the SEC said in the complaint filed against Syron. The agency seeks unspecified damages against the defendants. Fannie Mae or Freddie Mac aren’t named as defendants in the case.
Mudd, now CEO of Fortress Investment Group LLC, was ousted when Fannie Mae and Freddie Mac were seized by regulators in September 2008.
I wonder if this investigation or a new investigation will look at the policitians, but they always seem to cover themselves.

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2 comments:

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