BonusSpeak | Dec 13, 2011 US Senate Banking Committee Hearing on FHFA, Fannie/Freddie Bonuses

Posted by Foreclosure Hamlet on December 15, 2011 · Comments Off 

Fannie Mae and Freddie Mac Oversight

Dec 13, 2011 Senate Committee Banking, Housing and Urban Affairs

Steve Linick, FHFA Inspector General, testified at an oversight hearing on the Federal Housing Finance Agency (FHFA). He questioned FHFA’s decision to award over $35 million in executive bonuses at Fannie Mae and Freddie Mac without conducting an independent review. The federal government had spent about $180 billion to support the mortgage companies since 2008. The government estimated the conservatorship could cost $220 billion by 2014.

Bonus Speak at about 33:30 but the entire clip is worth the watch…

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4closureFraud.org

Related posts:

  1. Report | Federal Housing Finance Agency’s Oversight of Fannie Mae’s and Freddie Mac’s Executive Compensation Programs
  2. McKinley v Federal Housing Finance Agency – FOIA Lawsuit Filed Against FHFA Over Fannie Mae and Freddie Mac Documents
  3. KABOOM | FHFA Sues 17 Firms to Recover Losses to Fannie Mae and Freddie Mac (Filings)
  4. Official Press Release | FHFA, Fannie Mae and Freddie Mac Announce HARP Changes to Reach More Borrowers
  5. FHFA – Conservator’s Report on the Enterprises’ Financial Performance, Freddie and Fannie

Filed under bankruptcy, cdo, cds, Corruption, Fannie Mae, foreclosure, Foreclosure Fraud, Foreclosuregate, freddie mac, MERS, mortgage electronic registration system, Mortgage Fraud, securities fraud

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