Arrogant and Unethical

TopHat

http://www.accessmylibrary.com/coms2/summary_0286-30494372_ITM

'Arrogant and unethical': Fannie Mae to pay $400 million penalty. Byline: Robert Manor May 24--Federal regulators on Tuesday described an epic culture of corruption within the former top leadership of Fannie Mae, one of the nation's largest financial institutions, as they announced that the company would pay a $400 million penalty. The Office of Federal Housing Enterprise Oversight said an "arrogant and unethical corporate culture" led Fannie Mae's management to employ deceptive accounting to create the illusion of steady increases in profits. The company is believed to have overstated results by nearly $11 billion during the late 1990s and early part of this decade. Fannie Mae, created by the government during the 1930s, is a private, shareholder-based company that helps make mortgages available by pooling and selling them to investors. Its involvement in a corporate scandal tars a Washington, D.C.-based institution whose mandate and lineage are linked closely to the government's promotion of the American dream of homeownership....


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Brother Apostate

Old news, well known two and a half years ago.

Why was nothing done?

What led up to the crisis?

Could it be campaign contributions?

BA- Hmmmm.

PS:

http://www.youtube.com/watch?v=WSDT_qcfp1Y

Brother Apostate

Yeah, well, both parties are to blame for the crisis:

http://iarnuocon.newsvine.com/_news/2008/10/01/1940028-the-republican-roots-of-the-subprime-crisis?groupId=87

http://groups.google.com/group/total_truth_sciences/browse_thread/thread/f4d5436cd80a9ad5

BA- Both parties, bought and paid for. Republican/Democrat- two sides of the same corrupt coin.

mrsjones5

Both sides had their fingers in the cookie jar:

"Angelo's Many Friends" - The Countrywide V.I.P.-loan scandal went far beyond a few members of Congress. An exclusive look inside C.E.O. Angelo Mozilo's secret effort to curry favor with lawmakers, politicians, and others who could influence the company's fortunes. http://www.portfolio.com/news-markets/national-news/portfolio/2008/07/16/Countrywide-Deals-Exposed#

"Leaving H.U.D With a Thud" - Housing secretary says he will step down amid allegations of repeatedly steering federal contracts to friends. http://www.portfolio.com/news-markets/top-5/2008/03/31/HUD-Secretary-Jackson-Resigns

beksbks

I'm sure this sounds all scary and sensational to ya Toppie, but there's not an ounce of news here.

Awakened at Gilead

Can someone pass my bottle of ~~Palin~~ Pain Reliever?

beksbks

Can someone pass my bottle of ~~Palin~~ Pain Reliever?

I don't think anyone is saying that the republicians are not partly guilty also....but why is Obama hiding the facts from us? He is up to his neck, indeed the mud is over his head in the sub prime mess with the banks. AND we the people of the USA are suffering for it. Obama is a cold hearted man and has no conscience. Obama is not cool, he is COLD.

Brother Apostate

I don't think anyone is saying that the republicians are not partly guilty also....but why is Obama hiding the facts from us? He is up to his neck, indeed the mud is over his head in the sub prime mess with the banks. AND we the people of the USA are suffering for it. Obama is a cold hearted man and has no conscience. Obama is not cool, he is COLD.

OBAMA or MCCAIN = SAME MASSIVE SUCKING SOUND. BA- The whole truth, and nothing but the truth.

beksbks

Ok TopHat, I've had about all I can take from you. You are rude, uninformed, and frankly not very bright. Aren't you embarrassed to spout of your mouth when you have so little knowledge??? You should be.

Arrogant and Unethical

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