Community | January 24, 2011 | 3 comments

Taxpayers spend $160m defending Fannie Mae and Freddie Mac executives from civil lawsuits! Should This Man Be Held Accountable?

Image
congoboy
Two giant mortgage lenders bailed out by the U.S. government are using the taxpayer cash to defend their senior executives against fraud allegations - levied by the U.S. administration.

Financial houses Fannie Mae and Freddie Mac were taken over by the government in September 2008 after suffering massive losses in the subprime lending crisis.

But according to the New York Times, the firms are spending millions of dollars in legal fees to fight off various securities suits and government investigations into accounting irregularities that occurred before the companies went broke.

Read more: http://www.dailymail.co.uk/news/article-1350103/Taxpayers-spend-160m-defending-F...
  1. groups:
    Community
  2. tags:
    Fannie Mae,  Freddie Mac,  Barney Frank
  3.     
    |

3 comments // Taxpayers spend $160m defending Fannie Mae and Freddie Mac executives from civil lawsuits! Should This Man Be Held Accountable?

  • carslut
    • -1
      carslut  

    • We should be prosecuting Barney Frank and Chris Dodd for these crimes. They're the two idiots that passed the law leading up to this clusterfuck. And who did the government put in charge of fixing this mess? Barney Frank AND Chris Dodd. Why is our government sooo screwed up???

    • 1 year ago
  • CitizenHill
    • -1
      CitizenHill  
    • carslut:

      Because we've continued to swallow their bullshit and have totally failed to hold them accountable - just look at the house and senate ethics committee as an example, it's a god damned joke!

    • 1 year ago
  • congoboy
more from Community:
from the community

top videos