To Settle SEC Case, Government Pays Itself $100,000


To Settle SEC Case, Government Pays Itself $100,000

Former Fannie Mac CEO reaches agreement that places no restrictions on future work

Former Fannie Mae chief executive  Daniel Mudd reached a “settlement” with the Securities and Exchange Commission in a crisis-era case it filed against him. The deal, filed on Monday, requires essentially nothing of Mr. Mudd.

The settlement includes a $100,000 payment—to be paid by Fannie Mae, which already pays its profits to the U.S. Treasury because it landed in government conservatorship in 2008. “One could see this as the government paying itself $100k to end the case,” Mr. Mudd said in an email.

The settlement also included no restrictions on Mr. Mudd’s future work, an “unprecedented” win, according to Mr. Mudd’s lawyer, James Wareham.

It is a remarkable end to a high-profile set of lawsuits the agency filed in 2011, when it sued six executives of the mortgage giants Fannie Mae and Freddie Mac, accusing them of misconduct tied to the 2008 financial crisis.

The cases accused the men—three from Fannie and three from Freddie—of allegedly misleading investors in the mid-2000s about the mortgage finance firms’ subprime holdings. It charged them with securities fraud, and announced the cases at a December 2011 press conference in conjunction with “nonprosecution agreements” the SEC reached with the two firms.

Rest here…


7 Responses to “To Settle SEC Case, Government Pays Itself $100,000”
  1. lvent says:

    How could HANK PAULSON have wrote those checks based on FRAUD RACKETEERING unless he was peddling MONEY LAUNDERING which is HUMAN TRAFFICKING unless he was in on it.

  2. lvent says:

    That means they must have been trading the weigh bills they were unlawfully plundering & that’s CRIMINALLY CONTEMPTUOUS by WALL STREET brand brokers by brokering their own FRAUD under the guise of TRADE BROKERING FRAUDULENT CONCEALMENT.

    That’s proven by no major corporate failures since BUSH bailed out AIG for $85 BILLION in MARKET SHARE SPECULATION that was never established.

  3. lvent says:

    That’s why the day traders won’t show what’s on the books on the ACCOUNTS RECEIVABLE side of whatever they’re supposedly trading.

  4. lvent says:

    What I requested was the fair & equitable EXCHANGE RATE VALUE for their plundering of the weigh bill if they could not show me what they speculated on.

    Obviously the EXCHANGE RATE SPECULATORS could not produce the RATE OF SPECULATION they SPECULATED on.

    Therefore JUDGE PRICE WALKER was being ruthless towards me for someone over something & that’s evidence of CONSTRUCTIVE FRAUD by the investors in it whether that was before during or following the fraudulent TRADE SPECULATION.

  5. lvent says:

    For example when they pray for relief who is it they’re praying to because THOU SHALL NOT STEAL is one of the TEN COMMANDMENTS.

    Moreover, when JUDGE PRICE WALKER said to me do you think you’re owed money & I said yes in his stead in the DALEY CENTER DOWNTOWN CHICAGO on the 28th FLOOR, 50 WEST WASHINGTON he knew I filed my CROSSBILL so he was speaking in hyperbole because he said he didn’t think the CROSSBILL was the correct remedy.

    He said refile your AFFIRMATIVE DEFENSES with your COUNTERCOMPLAINT which I didn’t think was correct & I told him that (because if he were party to the FC he couldn’t rule in fairness).

    That’s when I knew there were conflicting interests that could not be seen.

  6. lvent says:

    I see evidence the U.S. LEGAL SYSTEM is in its existence occultic & is beholden to the dark side to which I’m certainly not.

  7. mike Drouin says:

    I never though we would come to the day when our Government would become an organized crime entity ….. That day has arrived !!! It will only get much, much worse from here !!!

Leave a Reply