Monday, January 24, 2011
Thought this was amazing.. kinda speaks for itself...
Mortgage Giants Leave Legal Bills to the Taxpayers (New York Times) -- "Since the government took over Fannie Mae and Freddie Mac, taxpayers have spent more than $160 million defending the mortgage finance companies and their former top executives in civil lawsuits accusing them of fraud. The cost was a closely guarded secret until last week, when the companies and their regulator produced an accounting at the request of Congress... Documents reviewed by The New York Times indicate that taxpayers have paid $24.2 million to law firms defending three of Fannie’s former top executives: Franklin D Raines, its former chief executive; Timothy Howard, its former chief financial officer; and Leanne Spencer, the former controller."
Notice it said, "this cost was a closely guarded secret until last week"..
The corruption in this nation is So thick, it goes far beyond a specific President or political party or parties.. its just a continual climate of screwing the bottom 98% at every turn.. and somehow we continue to take it