Monday, January 24, 2011

Mortgage Giants Leave Legal Bills to the Taxpayers

We are paying the legal fees of the executives that lied about the solvency of Fannie Mae and Freddy Mac.

And, this after we the tax payers bailed them out for their politically pressured loan decisions.

nY Times article
Since the government took over Fannie Mae and Freddie Mac, taxpayers have spent more than $160 million defending the mortgage finance companies and their former top executives in civil lawsuits accusing them of fraud. The cost was a closely guarded secret until last week, when the companies and their regulator produced an accounting at the request of Congress.....

Pure corruption... at our expense.

xtnyoda, shalomed

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Blogger Locutisprime said...

We have been paying the legal fees of criminals for the last fifty odd years or more. Nothing new there other than the amount for this go round.

6:39 PM  

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