Fannie Mae-No Politics (FNMA)

[jacklanvo99]

The Hustle Continues: Why the Feds Haven’t Nailed the Big Banks

A three-judge panel of the Second Circuit Court of Appeals overturned the lower court, ruling that while Countrywide breached its contract with Fannie and Freddie by selling them lower-quality loans than promised, the government did not prove what it had to: that Countrywide acted “knowingly and with a specific intent to defraud” at the time that the loans were sold. In other words, the Justice Department didn’t get sufficiently inside the minds of the executives to prove a deliberate scheme to defraud Fannie and Freddie.


https://newrepublic.com/article/133716/hustle-continues-feds-havent-nailed-big-banks