The FHFA sued Nomura and a host of other banks in 2011, alleging they sold more than $180 billion in allegedly toxic subprime MBS based on misrepresentations of the underlying mortgages’ quality and their review of those mortgages between 2005 and 2007. Those failed securities helped send the two mortgage giants into conservatorship.
The majority of banks involved in the cases have settled with the FHFA.
Now Fannie Mae and Freddie Mac needed $186 billion, and banks defrauded (a crime) more that $180 billion. What exactly did Fannie and Freddie do then to deserve the Rape and Witch hunt that the politicians have done to them?
I know, they saved the USA housing markets from criminal banks!
But who's counting that in their favor? I am, so that makes one!
Too bad the news in America is not free like it was in the prior decades.
Its a shame the news is so controlled by their masters!
- PVCT shareholder blog
- GILD shareholders blog
- FANNIE FREDDIE GOOGLE GROUP
- Bill Maloni GSE
- FNMA - YAHOO message board
- FNMA Real Time QUOTE
- $60 per share, target
- Throwing out the case: Perry Injunction
- Why the FHFA took over Fannie and Freddie and AIG
- homesteading off grid planning
- Save on Your Electric Bill