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Former Fannie, Freddie Officials Deal with ‘Significant’ Swindle, Sleeping Fees

The new Bonds and Replace Payment have billed six former Fannie mae and you can Freddie Mac officials that have misleading people about risky loans. Judy Woodruff discusses the alleged wrongdoings possess triggered the borrowed funds meltdown with Edward Pinto of your Western Agency Institute and you may Lynn Turner out of LitiNomics.

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The people who have been running several home loan beasts if construction bubble bust have been officially accused today of civil scam. New Bonds and you can Exchange Fee submitted a lawsuit naming half dozen previous managers at Federal national mortgage association and you will Freddie Mac.

The brand new six was basically accused off sleeping exactly how profoundly Fannie and you can Freddie got dedicated to ties backed by risky mortgage loans.

ROBERT KHUZAMI, Securities and Exchange Commission: In 2 separate grievances, we allege these particular somebody triggered its enterprises so you can materially - materially misstate the subprime mortgage visibility inside the filings into the SEC, courtesy public comments, courtesy trader calls and you will media interviews.