Category Archives: Fannie Mae

FBI investigating Fannie Freddie AIG and Lehman

According to AP and Fox Noise:

Two law enforcement officials said the FBI is looking at potential fraud by mortgage finance giants Fannie Mae and Freddie Mac, Lehman Brothers Holdings Inc., and insurer American International Group Inc.

A senior law enforcement official says the inquiries, still in preliminary stages, will focus on the financial institutions and the individuals that ran them.

Officials say the new inquiries brings the number of corporate lenders under investigation over the last year to 26.(emphasis mine)

Woo Hoo! Bring those bastards down!!! Perp walk em!!!!!

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No Golden Parachute for Fannie and Freddie exec’s.

This per The Legal Times:

The Federal Housing Finance Agency—the regulator that now controls Fannie Mae and Freddie Mac—announced yesterday that it would block millions in exit pay to the companies’ departing chief executives. The “golden parachute” packages could have totaled as much as $24 million, and they have drawn fire from Congress and both presidential candidates ever since the government bailed out Fannie and Freddie two weekends ago. Daniel Mudd, Fannie’s ex-CEO, and Richard Syron, Freddie’s former CEO, learned yesterday that they would not receive the severance pay.

Mudd and Syron gotta be freaking out. Bet they pissed down both legs..

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Senate passes housing bill on a Saturday

From The Hill:

Senators found a rare chance for consensus Saturday on a broad housing bill aimed to benefit borrowers, mortgage firms Fannie Mae and Freddie Mac and communities hurt by the housing crisis.

The 72-13 final vote sends the bill to President Bush, who this week dropped a longstanding veto threat against the measure over $4 billion on community block grants. The legislation already passed the House on a 272-152 vote on Wednesday. All 13 ‘no’ votes were Republicans.

All no votes were Rethuglican..figures..they are the folks that wanted to take all the controls off banks and financial institutions..yet when the shit hits the proverbial fan..they don’t want to fix their fuckup. And, to add to this..the Rethugs are blocking any other bills until the Democrats lift the drilling ban. From The Hill again:

The GOP wants a more open amendment process that could allow a vote on lifting a congressional moratorium on offshore oil drilling.

“We want to address the issue of gas prices now,” said Minority Leader Mitch McConnell (R-Ky.). “The important thing to do is stay on the subject.”

Drilling will NOT do a fucking thing for the price of gas NOW you fucktard. Jesus Christ on a cracker..they still keep those talking points going long after they have been shown to be utter bullshit.