US charges ex-Fannie, Freddie CEOs with fraud

[Two Thumbs]

US charges ex-Fannie, Freddie CEOs with fraud - Yahoo! Finance


Anyone else hoping this leads to a Merry Christmas with Franks in chains?

Or is it just me?

 

[JoeB131]

No, not really.

I do think this is just the first salvo in how Obama plans to run in 2012. "I'm the only one fighting to save your homes and jobs from these people on Wall Street."

Expect a lot more indictments.

 

[Old Rocks]

A stupid kid can rob a 7-11, and get 10 to 20. These millionaires robbed millions of Americans of their jobs and homes. And got 10 to 100 million in bonuses. Good ol' American Justice.

 

[WillowTree]

Dodd and Frank.

 

[JoeB131]

A stupid kid can rob a 7-11, and get 10 to 20. These millionaires robbed millions of Americans of their jobs and homes. And got 10 to 100 million in bonuses. Good ol' American Justice.

Yes, that is wrong.

Although the kid usually used violence to rob the 7-11, the millionaires did it "legally".

Frankly, I'm all for prosecuting them, but let's not pretend we weren't all part of the larger problem.

We all went along with the whole Real Estate Market, because we all thought we were going to retire on the equity on our homes. Everyone said that the home prices were going through the roof, but we all ignored it, we watched those stupid "Flip this House" shows on TLC and thought we could do it, too. We all charged up on our credit cards and then took out equity loans on our homes.

I think the thing is, all the generations that followed that "Greatest Generation" just had it too easy. That generation that grew up during the Depression and went on to win World War II knew what it was like to save, to be thrifty, to work hard and to demand a fair wage work.

Today we expect to be handed an easy job for a lot of money while we export the hard work to China or get a Day Laborer to do it. And we wonder why we have problems.

 

[Cuyo]

Sorry, this is a civil suit and Barney isn't even mentioned, except in the comments.

Interesting that two such outliers have become the focus of attention. Where's the outrage over Citi, Countrywide, Goldman, BofA, Lehmen?

If we're going to put someone up on the cross, shouldn't it be the engineers of the crisis, and not just followers who happen to make easy targets?

 

[edthecynic]

US charges ex-Fannie, Freddie CEOs with fraud - Yahoo! Finance


Anyone else hoping this leads to a Merry Christmas with Franks in chains?

Or is it just me?

Don't you mean BUSH in chains?

These crooks are Bush appointees and Mudd was part of Bush's 2004 reelection campaign, which centered around no down payment loans to minorities.

 

[Truthmatters]

The banksters will get away scott free it seems

 

[Sallow]

A stupid kid can rob a 7-11, and get 10 to 20. These millionaires robbed millions of Americans of their jobs and homes. And got 10 to 100 million in bonuses. Good ol' American Justice.

Yes, that is wrong.

Although the kid usually used violence to rob the 7-11, the millionaires did it "legally".
Frankly, I'm all for prosecuting them, but let's not pretend we weren't all part of the larger problem.

We all went along with the whole Real Estate Market, because we all thought we were going to retire on the equity on our homes. Everyone said that the home prices were going through the roof, but we all ignored it, we watched those stupid "Flip this House" shows on TLC and thought we could do it, too. We all charged up on our credit cards and then took out equity loans on our homes.

I think the thing is, all the generations that followed that "Greatest Generation" just had it too easy. That generation that grew up during the Depression and went on to win World War II knew what it was like to save, to be thrifty, to work hard and to demand a fair wage work.

Today we expect to be handed an easy job for a lot of money while we export the hard work to China or get a Day Laborer to do it. And we wonder why we have problems.

Maybe..maybe not.

The fact that the government hasn't pursued any sorts of investigations into the private side of the calamity really stinks.

 

[JWBooth]

Sorry, I am not so much a hack that I can equate Christmas with visions of somebody "getting theirs".

Is it likely that some or all of them have committed crimes that should they be convicted will result in jail/prison time? I dunno.
Do I want this to happen? If found guilty, yes.
Do I want this as some sort of perverse Christmas present? No, such a wish is petty and foolish.

 

[Mad Scientist]

A stupid kid can rob a 7-11, and get 10 to 20. These millionaires robbed millions of Americans of their jobs and homes. And got 10 to 100 million in bonuses. Good ol' American Justice.

Yes, that is wrong.

Although the kid usually used violence to rob the 7-11, the millionaires did it "legally".
Frankly, I'm all for prosecuting them, but let's not pretend we weren't all part of the larger problem.

We all went along with the whole Real Estate Market, because we all thought we were going to retire on the equity on our homes. Everyone said that the home prices were going through the roof, but we all ignored it, we watched those stupid "Flip this House" shows on TLC and thought we could do it, too. We all charged up on our credit cards and then took out equity loans on our homes.

I think the thing is, all the generations that followed that "Greatest Generation" just had it too easy. That generation that grew up during the Depression and went on to win World War II knew what it was like to save, to be thrifty, to work hard and to demand a fair wage work.

Today we expect to be handed an easy job for a lot of money while we export the hard work to China or get a Day Laborer to do it. And we wonder why we have problems.

Maybe..maybe not.

The fact that the government hasn't pursued any sorts of investigations into the private side of the calamity really stinks.

Our gov't is bought and paid for by the Banking Industry. The two biggest being JP Morgan and Goldman Sachs.

 

[Soggy in NOLA]

US charges ex-Fannie, Freddie CEOs with fraud - Yahoo! Finance


Anyone else hoping this leads to a Merry Christmas with Franks in chains?

Or is it just me?

Don't you mean BUSH in chains?

These crooks are Bush appointees and Mudd was part of Bush's 2004 reelection campaign, which centered around no down payment loans to minorities.

That would be Clinton you fucking Bozo...

 

[PeteEU]

Call us when the real crooks are charged.. people at BoA, Morgan Stanley, J.P. Morgan and so on.. they are the ones responsible for the problem, not Fannie and Freddie.

 

[kiwiman127]

US charges ex-Fannie, Freddie CEOs with fraud - Yahoo! Finance


Anyone else hoping this leads to a Merry Christmas with Franks in chains?

Or is it just me?

Don't you mean BUSH in chains?

These crooks are Bush appointees and Mudd was part of Bush's 2004 reelection campaign, which centered around no down payment loans to minorities.

That would be Clinton you fucking Bozo...

Mudd to Fannie in 2000.
Syron to Freddie in 2003.

So maybe we stop this partisan BS? Well of course not!

 

[Seawytch]

Sorry, this is a civil suit and Barney isn't even mentioned, except in the comments.

Interesting that two such outliers have become the focus of attention. Where's the outrage over Citi, Countrywide, Goldman, BofA, Lehmen?

If we're going to put someone up on the cross, shouldn't it be the engineers of the crisis, and not just followers who happen to make easy targets?

Ah, but the engineers are the "job creators"...can't pick on them, they're skitterish I hear.

 

[paulitician]

Barney Frank and Chris Dodd should not be let off the hook. I know they're both out of Congress now,but there should still be some real accountability.

 

[PoliticalChic]

Call us when the real crooks are charged.. people at BoA, Morgan Stanley, J.P. Morgan and so on.. they are the ones responsible for the problem, not Fannie and Freddie.

FDR, Carter, Clinton, Dodd, Frank, Cuomo

Pick up a copy of “Reckless Endangerment,” Gretchen Morgenson and Joshua Rosner...

"The villains? An unholy alliance between Wall Street, the Democratic establishment, community organizing groups like ACORN and La Raza, and politicians like Barney Frank, Nancy Pelosi and Henry Cisneros. (Frank got a cushy job for a lover, Pelosi got a job and layoff protection for a son, Cisneros apparently got a license to mint money bilking Mexican-Americans of their life savings in cheesy housing developments.)"
Fanniegate: Gamechanger For The GOP? | Via Meadia

 

[kyzr]

Recall who "engineered" the financial crisis......Bill Clinton, Dodd, Frank. They passed the "Community Reinvestment Act" whereby the unqualified were given mortgages, by banks forced by the government to give the loans, who promptly defaulted, which directly led to the financial crisis.

If this is NOT the root cause of the financial crisis, please post an alternate theory. I have tons of facts to provide.

 

[Cuyo]

Recall who "engineered" the financial crisis......Bill Clinton, Dodd, Frank. They passed the "Community Reinvestment Act" whereby the unqualified were given mortgages, by banks forced by the government to give the loans, who promptly defaulted, which directly led to the financial crisis.

If this is NOT the root cause of the financial crisis, please post an alternate theory. I have tons of facts to provide.

CRA only applied to chartered banks, not investment entities. The firms responsible were never affected by it.

Shame on you for "Thanking" that idiocy, TT.

 

[MikeK]

Call us when the real crooks are charged.. people at BoA, Morgan Stanley, J.P. Morgan and so on.. they are the ones responsible for the problem, not Fannie and Freddie.

The initial indictments are levers which can be used to apply upward pressure. Let's wait and see what kind of testimony they offer to save their own asses.