Sorry, what was I thinking, they're Dems.
And Barney Frank will be right behind them pumping up their morale.
The politicians who kept covering for Fannie and Freddie, when GW was asking them for more regulations, and the Republicans on the committee were asking for more regulations; those people should also be looked at in a serious fashion.
Richard Syron, the former chief executive officer of Freddie Mac, and Daniel Mudd, ex-CEO of Fannie Mae, Enrico Dallavecchia, who was chief risk officer for Fannie Mae; Thomas Lund, Fannie’s Mae’s former executive vice president; Patricia Cook, Freddie Mac’s former executive vice president; and Donald Bisenius, who was a senior vice president at Freddie Mac were all sued by the regulator.
They are going after Syron and Mudd, the Bush-Era CEO’s, and NOT Democrats Franklin Raines, who pocketed ONE HUNDRED MILLION DOLLARS cooking Fannies books, or Obama Advisor Jamie Gorelick, who pocketed $25 million from the same scam.
IMAGINE THAT, EH?
SEC Charges Former Execs Of Fannie, Freddie
SEC Seeking Financial Penalties
Aaron Smith
To hell with WSJ’s member’s only tease.
POSTED: 10:35 am EST December 16, 2011
UPDATED: 10:37 am EST December 16, 2011
NEW YORK (CNNMoney) — The Securities and Exchange Commission charged six former executives of Fannie Mae and Freddie Mac with securities fraud on Friday for misrepresenting their holdings of high-risk mortgage loans.
The SEC is targeting three former executives of Freddie Mac, including chief executive officer Daniel Mudd, chief risk officer Enrico Dallavecchia and executive vice president of single-family mortgage business Thomas Lund.
The agency is also going after three former executives of Fannie Mae: CEO Richard Syron, executive vice president and chief business officer Patricia Cook and executive vice president for the single family guarantee business Donald Bisenius.
The SEC is seeking financial penalties against them, but did not specify an amount.
Mortgage finance giants Freddie Mac and Fannie Mae, which play a central role in the U.S. housing market by keeping the cost of mortgages lower, received the biggest federal bailout of the financial crisis.
In addition, top executives have drawn some $100 million in pay.
Copyright CNN 2011
Bah, it’s a smokecreen. Not worth getting fired up about one way or another (for example, if you don’t want anyone punished because everyone isn’t punished). They’ll fine these guys some (very) small percentage of their ill gotten gains and that will be that. The sheeple will think something’s been done, and future crooks will know to really pump up the profits so they have a lot left over after they give the Feds their cut via SEC fines.
Rahm Emanuel
Of course, only peasants get criminal charges for fraud...
Obama: "They Did Nothing Illegal, Only Found Loopholes that We Worked to Close."
Obama Explains The Simple Reason Why There Have Been No Criminal Cases Against Wall Streeters
In a television interview this weekend, CBS "60 Minutes" asked President Barack Obama why there haven't been more criminal cases made against Wall Street.
The reason, Obama explained, is they didn't do anything illegal.
"I can tell you, just from 40,000 feet, that some of the most damaging behavior on Wall Street, in some cases, some of the least ethical behavior on Wall Street, wasn't illegal. That's exactly why we had to change the laws. And that's why we put in place the toughest financial reform package since F.D.R. and the Great Depression," Obama told CBS's Steve Kroft.
Economics is apparently boring....
Barrrney oh Barrrney...
Could you come here for a moment please?
Is this a joke? No Franklin Raines, No Jim Johnson, No Jamie Gorelick. Just a dog and pony show. I realize the SEC is looking at disclosures around the 2008 collapse timeframe, but Mudd and Syron were basically having to do the equivalent of finding the smelliest turds in the port-o-let after it was at occupy wall street for two weeks. They should be pursuing the defecants, not Mudd and Syron.
Let’s see, if paid say, $25 million for essentially wrong doing over the course of your term of employment and the offer is no jail time and a fine $5 million, what would you do? The ‘you can’t be CEO of a big company anymore’ is a nice touch.
Maybe, the Fanny/Freddy crooks, Dodd and the maggot infested Frank, might get to spend sometime in a prison for formerly rich rats.
more doodoo rising .. question is when will it reach folk like andrew cuomo HUDman, barney buttflake& hisbordello_buddy, raines, gorelick, ..
ya need a mighty stiff wind to blow just right.. mmm.. maybe ,, someday.. hopefully sooner not later..