Legal Fees Mount at Fannie and Freddie

Legal Fees Mount at Fannie and Freddie

Taxpayers have advanced almost $50 million in legal payments to defend former executives of Fannie Mae and Freddie Mac in the three years since the government rescued the giant mortgage companies, a regulatory analysis has found.

In that time, $37 million has gone to three former Fannie Mae executives accused of securities fraud, according to the analysis by the inspector general of the Federal Housing Finance Agency, which oversees both companies. Acting as their conservator, the agency is charged with protecting taxpayers from further losses at Fannie Mae and Freddie Mac. Those losses now stand at $183 billion.

Although the legal costs for the former executives are a small fraction of the companies’ mortgage losses, it is imperative that the housing agency move to limit these fees, said Steve A. Linick, inspector general of the agency.

“F.H.F.A. and Fannie Mae believe that their options are limited in paying current legal fees for former officers and directors,” Mr. Linick said in a statement. But he called for greater oversight. The legal costs are the responsibility of taxpayers because of contracts struck by the companies before they collapsed. Those agreements, which are typical in corporate America, state that legal fees incurred by executives defending against lawsuits will be advanced by the companies. If a court or jury rules that officials breached their duties or acted in bad faith, the officials will have to repay the advances.

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Comments
15 Responses to “Legal Fees Mount at Fannie and Freddie”
  1. Ali says:

    I am not using a tablet but am having problems.

  2. Ali says:

    I have been on the phone with the States Att. office , both locally and in Chicago, the recorders office, both, its the same players in every city, county, states, countries, it is fucking mind boggling to see right in front of my very eyes that that these same players are to this day allowed to continue with the fraudclosures and manufacturing of illegal documents, NOBODY IS DOING ANYTHING TO STOP THIS, even with all we NOW know. My recorders office isn’t even doing an investigation! I don’t believe that there was even a settlement on the table. It is fraud starting at the lowest levels right to the top of the federal goverment. Sorry if this is a repeat, I keep getting kicked off and have to start all over again. This kind of fraud was very well thought out at every level, and now they are trying to keep us from communicating to each other. I feel the anger swelling in the air. Don’t pay, don’t sign, close your bank accounts, lock and load. Protect your homes, they have been paid for many times over. All these title insurers are tied together. Ticor, Stewart, recon, corelogic and on and on. First they need to close the Recorders office to anymore assignments and declare them a “CRIME SCENE’. Stop all foreclosures. Audit all the banks. Audit and get rid of Wall Street, its nothing but a grand casino where they trade other peoples lives away and soon their own. You know who said he was “fundimentaly change this country”, well he did, right under our noses and there is no one to protect us. The judges are in on it, or too scared to do the right thing which is to declare all morgages PAID in FULL, including taxes and insurance. What planet on we on, I just can’t beleive that this is really happening. Maybe I’m ready for the “Rubber Ramada”. This has consumed me for over three years, learning mortgage law, consumer law, trust laws, sec laws, I am so very tired and disgusted. Oh and Michelle, this is the first time in my adult life that I am ashamed to be an american. No wonder the rest of the world hates us.

    • lvent says:

      Ali, believe me, I have been there and I have filed formal complaints and sent countless e-mails and made I dont even know how many phone calls to complain to people I never even cared to know existed..There is an agency and a phone number for everything but all roads lead you to the same brick wall.They planned it this way because they want to wear us down…Now I ignore them all…!.I have had some really valuable meetings and phone calls along the way with some very reputable people as well that gave me many valuable tips and info along the way…. One bit of good info that I got was from a meeting with an Investigator from the State AG’s office last Spring..he told me, they want to wear you down so that you give up.. ! That kind of talk always motivates me and keeps me going.. These evil globalists declared all out war on the people and they declared that sneak attack and declared that evil war on all of us on 9/11… many millions more are just waking up to many of these truths right now and for that I am thankful and grateful… Weve gotta have faith…and all stick together…and never, ever just believe them or give up anything they tell us to anymore…ESP… our guns, no matter what excuse they try and use to take them away…..That is the only thing that is keeping us all safe from their real evil agenda…They never thought they would get caught and thank God we caught them..! We cant let them scare us or lie to us in order to try and deceive us anymore.., now that we know the truth..and that is what they fear the most…THE TRUTH…!!!! Time for the American People to send all of these lying, four flushing, evil Globalist bastards packing…this is our country..and WE THE PEOPLE..will never give up defending America, our Freedom or our Independence and Prosperity or our DEEDS…!!…….I cant wait till one of them tries..I will introduce them to my little friend…and shoot their evil asses full of lead..!

      • lvent says:

        We The People, ( I love to say that phrase from the preamble, because these Globalists hate that phrase, it is to U.S CONSTITUITION..for them…and ….they hate unity among the AMERICAN people…and National Sovereignty!)…anyways, WE THE PEOPLE , MUST, MUST, MUST…. make sure none of these Globalist pigs get elected or re-elected…We ALL really had better do our homework this election and stick together….WE THE PEOPLE NEED A SOLID PLAN..AND A STRATEGY….!

  3. lvent says:

    Just wanted to ALERT THE PEOPLE who come to this site by asking the question…Is anyone one else who visits this site unable to post comments from their tablets…? Because my comments from my tablet are not posting here today and were not posting here as of around 9 p.m. last evening…….and it looks to me like the evil doers are up to some more evil, deceptive tricks…!!!

    • lvent says:

      Please let me know if this is PROBLEM of posting comments from your tablets is happening to ANYONE ELSE because therefore there is indeed a CRIME BEING COMMITTED BY “SOMEONE”… to block our CONSTITUTIONAL RIGHT TO FREE SPEECH…AND THEY AND THIS MUST CRIMINAL ACT MUST THEN BE EXPOSED…RIGHT NOW…TO THE MASSES AS WELL AS TO OCCUPY AND TO ANONYMOUS….!!

  4. Barbra Orr says:

    this is one of the perks for the poor little executives. If they are found guility they will have to pay it back ok . We will never see that money. I am so glad to know that my dollars are paying for these executives ignorance. Bless there black corrupt hearts they had no idea what those banks were doing and they did not care to find out. It is not their problem if it does become their problem we the people get to take care of it. I am really beginning to think this real estate is beyond repair. Does anyone have the _ _ _ _ s, to say enough ??? Hell no we won’t let them go. Look of the picture of the two guys we are paying for their defense. What does it take for freddie or fannie to realize that their may have been a problem writing in the sky from God? Truthfully I think if fraud knocked on their door with a big sign they still would not get it, not we got it..

  5. lvent says:

    MY LOCAL NEWS HERE IN CHICAGO, CLTV REPORTING THAT…. THE FTC IS NOW GOING AFTER PHANTOM DEBT COLLECTORS….
    SO THEREFORE, THAT SHOULD TRANSLATE INTO THE END OF FRAUDCLOSURES…..!!!

    • lvent says:

      MY LOCAL NEWS ALSO REPORTING THAT GOVERNOR QUINN OF ILLINOIS IS PLANNING ON SLASHING MILLIONS OF DOLLARS IN MEDICAIRE AND MEDICAID TO THE PEOPLE OF THE STATE OF ILLINOIS…!!!
      THATS RIGHT, GOVERNOR QUINN FULLY INTENDS ON ACTING LIKE A FASCIST NAZI DICTATOR… AND RE-HARMING THE VICTIMS OF ALL OF THE POLITICIANS MASSIVE FRAUD, CORRUPTION AND ROBBERY OF THE WEALTH OF,THE PEOPLE OF THE STATE OF ILLINOIS, THE OFFICIAL THIRD MOST CORRUPT STATE IN THE COUNTRY……BY ACTING LIKE A SNEAKY CRIMINAL HIMSELF WHO IS TRYING TO HIDE THE FACTS AND THE CRIMES..WHICH HE CANNOT…THE PEOPLE OF THE STATE OF ILLINOIS KNOW THE TRUTH FULL WELL, AND THE FACTS ARE THAT ..GOVERNOR QUINN AND ALL OF HIS MINIONS AND COHORTS, WHO INCLUDE THE MAYOR OF THE OFFICIALLY MOST CORRUPT CITY IN THE COUNTRY…CHICAGO….RAHM EMANUEL…AND WE THE PEOPLE KNOW THE FACTS ARE THAT THESE CRIMINAL POLITICIANS ARE ACTUALLY FORCING, AND BEING SNEAKY, AND TERRORIZING AND EXTORTING… THE PEOPLE OF THE STATE OF ILLINOIS TO PAY FOR ALL OF THEIR POLITICAL FRAUD AND CORRUPTION AND ROBBERY AND MISSING MONEY THAT HAS BEEN STOLEN BY THE TRAITOR POLITICIANS IN ILLINOIS….!
      OFF WITH THEIR HEADS…!! HOGS DONT GET RE`ELECTED….!!!

  6. lvent says:

    THE GSE’S ARE HALF OWNED BY THE FEDERAL RESERVE BANKSTERS, A MASSIVE, INSOLVENT, CRIMINAL INSTITUTION…AND THE FACT THAT THE GSE’s ARE HALF FEDERAL RESERVE BANKSTER OWNED AND HALF U.S. TAXPAYER OWNED…MEANS THAT THE U.S TAXPAYERS UNKNOWINGLY AND THEREFORE, NOT ONLY, UNWILLINGLY FUNDED AND PAID FOR THEIR ENTIRE CRIMINAL SET UP TO FAIL AND ROBBERY OF ……WE THE PEOPLE….BUT ARE UP TO THIS VERY DAY….!!. MWAHAHA…!
    IT IS A KNOWN FACT THAT THE GSES’S ARE COMPLETELY BANKRUPT AND INSOLVENT ON THE FEDERAL RESERVE BANKSTER SIDE….
    BUT YET, TO THIS VERY DAY, THESE CRIMINAL INSTITUTIONS ARE IN RECEIVERSHIP WITH THE U.S. GOVERNMENT AND ARE THEREFORE, THE UNCONSTITUTIONAL AND ILLEGAL DEFINITION OF FASCISM. COMMUNISM AND OPPRESSION ….BEING COMMITTED IN PLAIN SIGHT BY OUR VERY OWN GOVERNMENT AND OUR OWN POLITICIANS… !!!!
    IT IS 110% TRUE THAT…THE BANKRUPT AND INSOLVENT, FEDERAL RESERVE BANKSTER OWNED HALF ARE BEING ALLOWED TO HOLD THE U.S. TAXPAYERS HOSTAGE BY THE U.S. GOVERNMENT AND EXTORT THE PEOPLES WEALTH, HOMES AND BUSINESSES THAT WE THE PEOPLE ALREADY FUNDED AND PAID FOR VIA THE U.S. TREASURY DEPT AT THE ORIGINATION…
    WHEN IT IS KNOW FACT THAT…THAT ALL PARTIES SET OUT AND INTENDED TO MASSIVELY AND SECRETLY DEFRAUD THE AMERICAN PEOPLE OUT OF EVERYTHING OF VALUE INCLUDING OUR COUNTRY……AND THE FACTS ARE NOW WELL KNOW THAT THESE CRIMINALS…DISHONORED OUR CHECKS AKA THE NOTES AT THE ORIGINATION FRAUD..
    .WHICH THAT DISHONORING OF OUR NOTES CONTINUED EXPONENTIONALLY AFTER THEY NOT ONLY COMMITTED THE MASSIVE, ORIGINATION FRAUD BUT THEN WERE ALLOWED TO ALSO CREATE $700 TRILLION DOLLARS IN UNSUSTAINABLE MORTGAGE FRAUD DEBT, BY CONTINUOUSLY DISHONORING THE PEOPLES NOTES EXPONENTIONALLY…
    AND THE FACT IS THAT MASSIVE DECEPTIVE FRAUD AND DISHONORING OF THE PEOPLES CHECKS AKA THE PEOPLES NOTES, CONTINUES UP TO THIS DAY VIA FRAUDCLOSURES…!!!!!!
    THIS MASSIVE CRIMES SPREE HAS ALL BEEN ALLOWED AND IS STILL BEING CARRIED OUT VIA OUR OWN U.S. GOVERNMENT AND OUR POLITICIANS……WHO ARE TRAITORS AND THAT TREASON IS CONTINUING UNABATED ….UP TO THIS VERY MOMENT…!!!
    AND IT BECOMING MORE AND MORE A WELL KNOWN FACT THAT INDEED…
    THIS IS THE CRIMINAL ELITES END GAME HITLER PLAN TO STEAL THE FREEDOM, LIBERTY, WEALTH, INDEPENDENCE, AND PROSPERITY OF THE AMERICAN PEOLE, AND THEREFORE THEIR PLAN TO END AMERICA AND STEAL OUR NATIONAL SOVEREIGNTY……!
    AND THAT FACT HAS BEEN VERIFIED BY MANY VERY REPUTABLE SOURCES….
    THAT THIS ONGOING GLOBALIST CRIME SPREE IS CONTINUING, UNABATED, IN ORDER TO ROB AND BANKRUPT THE AMERICAN PEOPLE, WHO WERE THE UNKNOWING AND THEREFORE, THE ONLY UNWILLING VICTIMS OF THESE CRIMINAL PREDATORS….
    .HALF-OWNED AND OPERATED BY THE FEDERAL RESERVE BANKSTERS WHO WE THE PEOPLE FUND AND PAY FOR EVERYTHING THAT THEY DO……. ARE, TO THIS VERY DAY BEING AIDED AND ABETTED BY THE U.S GOVERNMENT WHO ARE NOT ONLY ALLOWING WE THE PEOPLE TO BE ROBBED, FINANCIALLY RAPED, TERRORIZED AND CRIMINALLY EXTORTED AND RE-VICTIMIZED…BUT, IN FACT IT IS WE THE PEOPLE, WHO ARE NOT ONLY THE VICTIMS BUT WE THE PEOPLE ARE ALSO WHO ARE FUNDING AND PAYING FOR THIS TERRORISM TO CONTINUE…WE THE PEOPLE WHO ARE IN FACT, THE REAL OWNERS OF ALL OF THESE CRIMINAL INSTITUTIONS…!!! MAWAHAHA!!!
    WE THE PEOPLE FUND AND PAY FOR EVERTHING THAT THESE CRIMINALS DO TO US…..!!! SO, THEREFORE THE QUESTION I HAVE FOR THE AMERICAN PEOPLE IS ARE WE REALLY THIS STUPID OR ELSE…. WTF IS WRONG WITH ALL OF US FOR ALLOWING THESE MASSIVE CRIMES TO CONTINUE AGAINST ALL OF US, WE THE PEOPLE, WHO ARE THE REALLY OWNERS OF THIS COUNTRY….??…….. CAN SOMEONE PLEASE TELL ME HOW…. IT WAS EVER EVEN ALLOWED IN THE FIRST PLACE THAT A HALF U.S. TAXPAYER OWNED INSTITUTION COULD ALSO HAVE BEEN HALF BANKSTER OWNED AND NOW THAT VERY BANKRUPT, INSOLVENT HALF CAN LEGALLY BE ALLOWED BY THE U.S. GOVERNMENT TO TERRORIZE AND EXTORT THE VERY VICTIMS THAT THEY ROBBED AND STILL TO THIS DAY BE ALLOWED TO ROB THEM AND DEFRAUD….TRILLIONS UPON TRILLIONS MORE OF THE U.S. TAX-PAYER MONEY AND HOMES AND BUSINESSES FROM US , THEIR VICTIMS….???? WHO ARE THE REAL OWNERS OF ALL OF THEM..?? OH I KNOW..BECA– USE WE THE PEOPLE WERE UNKNOWINGLY AND THEREFORE UNWILLINGLY DECEIVED BECA– USE OF THE FACT THAT OUR POLITICIANS ARE ALL TRAITORS….THAT WHY….!!! OFF WITH THEIR TRAITOR HEADS AMERICA…..!!! PIGS GET FAT…HOGS DONT GET RE-ELECTED….!!!! OCCUPY….WITH YOUR STAMPED PAID DEED…GUTS, GUNS, GOD…!!! FREEDOM, LIBERTY, JUSTICE, INDEPENDENCE AND PROSPERITY AKA…NATIONAL SOVERIEGNTY WILL PREVAIL…..!!

  7. Samuel Black says:

    Good! Let the fees explode and cut ’em all off. No more tax dollars to make Americans homeless.
    Let them pay their own fees. These suits who lied in court, forged, committed felonies, on behalf of Fannie need to be disbarred. (We, however, won’t foreclose on them if they can’t pay up, because we’re better than that)
    OCCUPY!!

  8. ChrisYAHanWatcher4YAH says:

    The Legal Mercenary$ Laugh; at the Americans, Being FLEECED, Coming and Going!

    Paying to: Bail Out: poor destititute Banksta Gangstas, paying: egregiously Stupid; Filthy Bonuses, to Fanny and Fraudy, for:

    Destroying the American Home Values,HyperInflating the Dollar therby: Deflating purchase power, Destoying the Economy and National Security, and STEALING even More of the WEALTH of AMERICA, to Vampiracally SUCK: U.S. Dry!

    We Must be the STUPIDIST GOYIM on the Planet, and perhaps In the UNIVERSE? The ET’s are laughing Htsterically too!

  9. Charles Deihl says:

    Must be nice to Use Tax Payers Money to Defend Criminals that caulsed Tax Payers to lose their Homes !!!

    • lvent says:

      It is all incredibly evil Charles Diehl, because of the way it was committed, by massive secrets, lies and criminal deceptions…. just like what the Nazis did to the German people during the last manufactured Great Depression….. And there is real proof…documented evidence that, just like 9/11, none of this should have never happened….All of the evidence points to the traitor politicians from within who are all the cause of all of it…they are morally bankrupt criminals who not only caused it to happen but designed and instituted the entire evil plan, which the evil end game plan to cover all of this evil up, began on 9/11 and there is PROOF AND EVIDENCE linking to the politicians and their minions and cohorts in CONGRESS AND THE SENATE..that all of this evill was all carried it out by the traitor politicians… So therefore they are who not only caused all of this evil to occur against humanity, but… allowed it to happen….! Off with their traitor heads.,…!!

      • lvent says:

        Their crimes are called FASCSIM……and it is not only sneaky and evil…it is also CRIMINAL and it is also TREASON….!

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