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Former federal housing agency director Mel Watt, who represented Charlotte in the U.S. Congress for more than two decades, misused his position to pursue a relationship with a woman working for him, according to a formal inquiry by the agency’s Inspector General. Watt was head of the Federal Housing Finance Agency, which currently oversees Fannie Mae and Freddie Mac, from 2014 through January when his five-year term expired. Simone Grimes, a special adviser at the agency, claimed that the 73-year-old Watt sexually harassed her and did not promote her when she declined his advances. Grimes also filed a pay discrimination...

NEW YORK—The Securities and Exchange Commission sued several former executives of Fannie Mae and Freddie Mac, including their former chief executives, alleging they misrepresented to investors their exposure to subprime mortgage loans.

The protesters have been sold a bill of goods. Reckless government policies, not private greed, brought about the housing bubble and resulting financial crisis. >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> There is no mystery where the Occupy Wall Street movement came from: It is an offspring of the same false narrative about the causes of the financial crisis that exculpated the government and brought us the Dodd-Frank Act. According to this story, the financial crisis and ensuing deep recession was caused by a reckless private sector driven by greed and insufficiently regulated. It is no wonder that people who hear this tale repeated endlessly in...

And the total risk they pose to the taxpayer far exceeds that of the big banks. Fannie and Freddie, in the final days of the year, are even said to be negotiating with the Treasury about greatly expanding the money available to them. Though the four are not in all the same businesses, they were caught in one of the same traps: They sold mortgage guarantees — in some cases to each other. Now when homeowners default, as they are doing in record numbers, these companies are covering the losses. Essentially, taxpayer money to these companies is being used partly...

Freddie Mac(FRE Quote) is temporarily bringing back its former chief executive as it deals with the apparent suicide of its acting chief financial officer. More on FRECramer's Take on Headline StocksPhoto Gallery: Freddie Mac CFO Found DeadFreddie Mac CFO Found DeadUS Foreclosures Up 24 Pct In 1QFannie Mae CEO Allison to Head TARP: ReportCramer: Bargain Basement AssetsGeithner: We May Oust Bank CEOsFannie and Freddie Planned Bonuses: ReportCramer: Bargain Basement AssetsFannie, Freddie May Aid Mortgage Banks Market Activity David Moffett, the former government-appointed CEO who resigned in March, will return as a consultant to interim CEO John Koskinen. He will help...

Senator John McCain’s campaign manager was paid more than $30,000 a month for five years as president of an advocacy group set up by the mortgage giants Fannie Mae and Freddie Mac to defend them against stricter regulations, current and former officials say.

A WOMAN WHO was branded with part of Con Edison's logo after falling onto a burning hot Manhattan manhole cover is suing the utility. A lawsuit filed yesterday in Manhattan Supreme Court accuses Con Ed of allowing the manhole cover at E. 13th St. and Second Ave., to become excessively hot through a buildup of steam under it. Elizabeth Wallenberg, 27, suffered "excruciating pain, disability and grotesque cosmetic disfigurement," according to the suit, which seeks unspecified damages. The fall left Wallenberg with a "C" and "O" and part of the manhole grid burned onto her back, just above the buttocks,...