Let the Games Begin … SEC Charges Former FANNIE MAE & FREDDIE MAC Execs with Securities Fraud

And so it begins … A bit delayed, but better late than never.

The SEC, Securities & Exchange Commission,has charged six former executives of Fannie Mae and Freddie Mac with securities fraud. Get ready for the Enron of the 2010′s. Those who committed fraud and deception upon the people of the United States may finally be held accountable. However, as stated at Michelle Malkin.com, there seem to be some missing from the list … where is former Fannie Mae head and Clinton/Obama pal Franklin Raines?

The Securities and Exchange Commission today charged six former top executives of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) with securities fraud, alleging they knew and approved of misleading statements claiming the companies had minimal holdings of higher-risk mortgage loans, including subprime loans. [...]

Three former Fannie Mae executives — former Chief Executive Officer Daniel H. Mudd, former Chief Risk Officer Enrico Dallavecchia, and former Executive Vice President of Fannie Mae’s Single Family Mortgage business, Thomas A. Lund — were named in the SEC’s complaint filed in U.S. District Court for the Southern District of New York.

The SEC also charged three former Freddie Mac executives — former Chairman of the Board and CEO Richard F. Syron, former Executive Vice President and Chief Business Officer Patricia L. Cook, and former Executive Vice President for the Single Family Guarantee business Donald J. Bisenius — in a separate complaint filed in the same court.


Visit msnbc.com for breaking news, world news, and news about the economy

Now all we have to do is add Democrats  Barney Frank and Christopher Dodd to the list of those who need to be charged with fraud and misleading the public.

And more lies …

Massachusetts Democrat US Rep Barney Franks Won’t Seek Reelection in 2012

That’s all folks …

Massachusetts Democrat Barney Franks will not be running for reelection in 2012. Franks blamed redistricting for his decision; however, he had a tougher than expected reelection bid in 2010. However, it probably has more to do with the fact that most of America is on to him and his “fingerprints” that were all over the 2008 financial crisis.

Rep. Barney Frank (D-Mass.) announced Monday that he will not seek reelection in 2012, ending a three-decade career in the House.

Frank, 71, is the top Democrat on the Financial Services Committee and the architect, with former Sen. Chris Dodd (D-Conn.), of the sweeping Wall Street regulatory reform law enacted in 2010.

He announced his decision at an afternoon press conference in his hometown of Newton, Mass., where he said redistricting played a major role in his retirement.

“I was planning to run again, and then congressional redistricting came,” Frank said.

Reelection? Heck, as the Gateway Pundit reminds us, earlier this year Newt Gingrich had suggested that Barney Franks should have been jailed. The post could be subtitled, the rats are fleeing the sinking ship … Frank 17th House Democrat to announce retirement.

Barney Frank Says Death Tax Not Punishment Because Heirs Didn’t do Anything to Deserve It … But Government Does

Double taxation death taxes are AOK for Barney Franks.

US Rep. Barry Franks (D-MA) says that high estate taxes are perfectly ok because the heirs did nothing to earn it and that its a pure gift to someone who hasn’t done it on their own and did not work hard. They were just lucky enough to be related to some one who gave them the money.

But in the eyes of Liberal Democrats, its just fine for the government to take someone’s money where the government did nothing to earn it or work for it . In fact, the government has already taxed the assets at least once.  These liberals would rip the gold fillings from your teeth if possible.


Hat Tip: The Blaze

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