Public Lashing ; Fannie, Freddie Chiefs Excoriated at House Hearing
The Washington Times › December 10, 2008
Linked as:
Summary
Members of a House watchdog panel verbally whipped four former chief executive officers of Fannie Mae and Freddie Mac Tuesday, plumbing documents to show they ignored warnings that investments in risky home mortgage loans could lead to financial disaster.
"Taking these risks proved tremendously lucrative for the Fannie and Freddie CEOs," said Rep. Henry A. Waxman, California Democrat, chairman of the House Oversight and Government Reform Committee. "They made over $30 million between 2003 and 2007. But their irresponsible decisions are now costing the taxpayers billions of dollars."See the full content of this document
Extract
Public Lashing ; Fannie, Freddie Chiefs Excoriated at House Hearing
Yet "nobody takes responsibility for anything," Rep. Mark Souder, Indiana Republican, said later at a hearing at which House members got angrier, their voices louder as it progressed.
"You're not being held accountable," ...See the full content of this document
Sponsored links
