Fox Business - The Power to Prosper
Search Site

Richard Syron

Appeals Court Rejects Lawsuit Against Freddie Mac

A federal appeals court on Tuesday upheld the dismissal of a shareholder lawsuit accusing Freddie Mac of concealing its precarious finances and its subprime mortgage exposure prior to the 2008 financial crisis.The 2nd U.S. Circuit Court of Appeals in New York said shareholders failed to connect their losses to the alleged inadequate disclosures by the government-controlled mortgage company and its officials, including former Chief Executive Richard Syron.Freddie Mac lost most of its stock market value when, along with the larger Fannie Mae, it was seized by U.S. regulators in September 2008, and put into a conservatorship under the Federal Housing Finance Agency.Shareholders led by the Illinois-based Central States, Southeast and Southwest Areas Pension Fund accused Freddie Mac of hiding its potential insolvency even after revealing a $2 billion quarterly loss on Nov. 20, 2007.But a three-judge 2nd Circuit panel said Freddie Mac had made "extensive disclosures" during the class period,...

Read More

  1. Lykken on Fannie and Freddie

    Fall of Fannie and Freddie

  2. Forget the Bailout: Here's a Better Way

    October 03, 2008 9:09 AM Forget the Bailout: Here's a Better Wayby Elizabeth MacDonaldSelect rating Poor Okay Good Great Awesome No votes yetComments »“The whole aim...

  3. Forget the Bailout: Here's a Better Way

    October 03, 2008 9:09 AM Forget the Bailout: Here's a Better Wayby Elizabeth MacDonaldSelect rating Poor Okay Good Great Awesome No votes yetComments »“The whole aim...

  4. Nationalized Mortgage Industry?

    Should the federal government be involved?

  5. Declining Mortgage Rates

    Will lower mortage rates restore confidence?

  6. Wall Street’s White Knights « Emac's Stock Watch

    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...

  7. Wall Street's White Knights

    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...

  8. Why You Should be Worried About the Rescue of Fannie Mae and Freddie Mac « Emac's Stock Watch

    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...

  9. Why You Should be Worried About the Rescue of Fannie Mae and Freddie Mac

    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...

  1. Lawsuit vs Freddie Mac rejected by U.S. appeals court

    A federal appeals court on Tuesday upheld the dismissal of a lawsuit accusing Freddie Mac of misleading shareholders by understating its subprime mortgage exposure a...

  2. Taxpayers Foot Legal Bills for Fannie and Freddie Execs

    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 ...

  3. Taxpayers to Foot Bill for Fannie and Freddie Legal Fees

    FBN's Peter Barnes on taxpayers paying for former Fannie Mae and Freddie Mac executives' legal fees.

  4. Fraud at Fannie and Freddie or Bad Management?

    FBN’s Gerri Willis on the potential fraud at Fannie Mae and Freddie Mac.

  5. Fallout from SEC Charges Against Ex-Execs

    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.

  6. Fannie, Freddie Former Execs Could Lose Bubble-Era Pay

    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...

  7. Blame the Bailouts on Mister Rogers? « Emac's Stock Watch

    December 12, 2008 12:45 PM UTC by Elizabeth MacDonaldBlame the Bailouts on Mister Rogers?Blame the record bailouts on Mister Rogers.Mister Fred Rogers, the children'...

Freebase CC-BY
Source: Richard Syron on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL