Skip to main content

View Diary: Fatal Flaws In The Case Against Fannie Mae Execs, Part 1 (13 comments)

Comment Preferences

  •  Holy Crap, Fannie and Freddie Apologists (0+ / 0-)

    because they "have long been a target of the right".

     Is it possible that the criminal executives who were running the GSEs at the time lied to investors and broke the Sarbanes- Oxley law complete with a 10 year prison sentence? Sure it does, or "duh". ?

    If the SEC has filed a complaint specifically against executives mentioning no criminal punishment as part of the agreement,  is the SEC doing what it has done for every bad actor in this whole mucked up crisis? Well, Hell yes.

    They did it with Bank of America, Citibank, JP Morgan and Goldman Sachs. Slaps on the wrists. Write a check from the stockholders checkbook or in some cases taxpayers . That means it's all done.No Criminal Prosecution. Lets not get hung up on those confounding finance terms when all we have here is a massive case of looting where the criminals don't go to jail.

    Put another way; if I rob a bank or even lie on a Loan App, I'm going to prison for a minimum of five years. If  bad actors in bank rob me, their shareholders pay the fines that the porn engorged SEC  and the banks agrees to pay   while not admitting guilt or innocence.If they rob investors by signing off on falsified financial statements, under Sarbanes-Oxley they go to jail for 10 years. Seen any go to jail yet  for securities fraud, mortgage fraud or fraudulent financial statements?

    I mean they didn't appoint two two of  the sharpest white collar criminal  defenders in Washington; Assistant AG and AG for nothing. Imagine the Criminal Defense Lawyer who also ran the much heralded Guns and Cash program to Mexico prosecuting bankers for criminal acts? That's why the SEC is bringing civil charges against selected executives, so the Assistant AG can say "Ok, they are punished". The taxpayers will pay their fine and Fannie and Freddie will keep doing business just as the other Banks have been doing.

    Your making this corruption thing too complicated. The SEC is a easy way out of jail.

    Uniformed people on the left, please don't worry about the right with F&F, because if they get too close that could open up a can a whoop-ass on their banker friends in Wall Street who sold them all kinds of fraudulent shit, that the bankers at F&F knowingly bought so they could"compete".

    This whole diary sucks. Please don't go there with part two. Well, if your getting paid like the last few diarists I saw, please step right up. Everyone needs to get paid to do something.

    Joined Oct 16th 2011 eh? Yep, that's about right. How many bucks does anyone want to put on this diarist that it will be gone no later than 10/30/2012 if it lasts that long.

    •  Real hard to get five years... (0+ / 0-)

      ...for lying on a mortgage app and submitting it to a lender.  If you write "this is a stickup" on the false app and commit that bank robbery with it, you can get your five years.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site