The SEC is suing the former CEOs of Fannie Mae and Freddie
Mac for misrepresenting the percentages of those
firms investment portfolios that were held in sub-prime loans.
While Daniel Mudd and Richard Syron are being named
individually, the firms will have to indemnify them, which is to
say defend them with taxpayer money, until and unless they are
convicted of a criminal act. Other Fannie and Freddie former
executives are also likely to be named as targets of SEC
enforcement actions. Now if they could only name Barney Frank and
Chris “Countrywide” Dodd…
Bumr50| 12.16.11 @ 11:06AM
This is going to implicate Newt.
Not convict him or anything, but perhaps force him to testify in a messy proceeding while he's trying to campaign.