Fannie Mae (FNMA)

[jacklanvo99]

Officials injected taxpayer money to stabilize Fannie and it's sibling Freddie which were conceived by Washington to promote home ownership and had helped underwrite a share of the easy-to-get subprime loans.

The SEC had accused Mudd and the five other Fannie and Freddie executives of downplaying the companies' exposure to risky loans.

The SEC said Fannie Mae concealed exposure to more than $100 billion of subprime and $341 billion of Alt-A loans - another class of mortgage offered to risky borrowers.

Former Freddie Mac chief Richard Syron as well as former executives Patricia Cook and Donald Bisenius previously settled their cases for $250,000, $50,000 and $10,000, respectively.

The case is U.S. Securities and Exchange Commission v. Mudd, U.

http://www.reuters.com/article/us-sec-fanniemae-mudd-exclusive-idUSKCN10X1ZI

--------------------------------------------Case got settled-----It's positive , because Govt will never admit their wrong doing (act)---will be more cases settled I bet-----------------