10-Baggas Factory 10

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Summary Box: Ex-Fannie, Freddie execs charged Associated Press, The   "AP Financial News"
EXECUTIVES CHARGED: Two former CEOs at mortgage giants Fannie Mae and Freddie Mac , and four other executives, were charged with civil fraud, the Securities and Exchange Commission said Friday. They are the highest-profile individuals to be charged in connection with the 2008 financial crisis.

SUBPRIME LOANS: The executives were accused of understating the level of high-risk subprime mortgages that Fannie and Freddie held just before the housing bubble burst.

CRIMINAL CHARGES?: The Justice Department began investigating the firms three years but many legal experts say they don't expect the six executives to face criminal charges.