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Remember that eye-popping $110 million bill taxpayers are on the hook for in defending former Fannie Mae and Freddie Mac execs since 2004?The total bill is actually even higher – and the worst part is that, by law, taxpayers shouldn’t have to pay it at all.Taxpayers have footed the bill for $194.4 million on legal fees to defend former executives like Franklin Raines and the companies themselves over accounting frauds that boosted bonuses and predated the government takeover of the companies, as well as for their role in the housing collapse. And that’s money spent only since the government seized them in 2008.The new figures come from the office of Rep. Randy Neugebauer (R-Tex.), whose House oversight subcommittee oversees Fannie and Freddie. The figures are based on confidential government documents FOX Business has reviewed.Rep. Neugebauer now has a bill cosponsored by Reps. Spencer Bachus (R-Ala.), Scott Garrett (R-NJ) and three other Congressmen that will attempt to minimize the i...
FBN's Elizabeth MacDonald breaks down today's news that the SEC has charged six former Fannie Mae and Freddie Mac executives with fraud, and its impact on their current positions.
The Securities and Exchange Commission may try to claw back executive pay given by Fannie Mae and Freddie Mac to six former executives during the housing bubble year...
NEW YORK (Reuters) - Daniel Mudd , the former CEO of government-sponsored mortgage firm Fannie Mae , has received notice from U.S. regulators that he may face claims...
Fortress Investment Group (NYSE:FIG), one of the world’s only publicly-traded hedge fund companies, posted a near $100-million loss in its third quarter as the compa...
Should the federal government be involved?
Will lower mortage rates restore confidence?
August 12, 2008 8:31 AM Wall Street's White Knightsby Elizabeth MacDonaldSelect rating Poor Okay Good Great Awesome No votes yetComments »Despite the initial burst o...
August 12, 2008 08:31 AM UTC by Elizabeth MacDonaldWall Street's White KnightsDespite the initial burst of positive headlines, John Thain of Merrill Lynch, Vikram Pa...
July 24, 2008 10:24 AM Why You Should be Worried About the Rescue of Fannie Mae and Freddie Macby Elizabeth MacDonaldSelect rating Poor Okay Good Great Awesome No vo...
July 24, 2008 10:24 AM UTC by Elizabeth MacDonaldWhy You Should be Worried About the Rescue of Fannie Mae and Freddie Mac"In this present crisis, government is not t...
It’s a really bad deal for taxpayers that a federal watchdog is suggesting that the government only “limit,” but not stop, the exorbitant legal fees that Fannie Mae ...
FBN's Sandra Smith breaks down late-morning market news.
FBN's Lauren Simonetti breaks down mid-afternoon market news.
Shares of investment firm Fortress Investment Group LLC fell about 3% on Wednesday after its CEO Daniel Mudd said he will take a leave of absence from the firm. The ...
Less than a week after being hit by a lawsuit over his role as CEO of mortgage giant Fannie Mae , Fortress Investment (NYSE:FIG) CEO Daniel Mudd disclosed plans on W...
Fortress Investment Group said Wednesday Daniel Mudd will take a leave of absence as the financial firm's chief executive officer. Mudd is the former chief of mortga...
FBN’s Gerri Willis on the potential fraud at Fannie Mae and Freddie Mac.
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