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  1. #1 Fannie Mae, Freddie Mac get subpoenas from FBI 
    Senior Member LibraryLady's Avatar
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    Fannie Mae, Freddie Mac get subpoenas from FBI


    Fannie Mae and Freddie Mac, already on a list of companies being investigated for possible accounting misstatements by the FBI, have now been served federal grand jury subpoenas.

    The two companies say they are also facing an investigation by the U.S. Securities and Exchange Commission.

    The subpoena seeks documents relating to accounting, disclosure and corporate governance matters dating back to January 2007, Freddie Mac said in a statement.

    Freddie Mac and Fannie Mae were both seized by the government and put into conservatorship Sept. 7 after mounting losses tied to subprime mortgage investments. The Treasury has agreed to invest up to $200 billion in the two companies to prevent them from collapsing.

    The grand jury subpoena came from the U.S. attorney’s office for the Southern District of New York.

    http://www.bizjournals.com/dayton/st...9/daily11.html
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  2. #2  
    Super Moderator BadCat's Avatar
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    Quote Originally Posted by LibraryLady View Post
    Fannie Mae, Freddie Mac get subpoenas from FBI


    Fannie Mae and Freddie Mac, already on a list of companies being investigated for possible accounting misstatements by the FBI, have now been served federal grand jury subpoenas.

    The two companies say they are also facing an investigation by the U.S. Securities and Exchange Commission.

    The subpoena seeks documents relating to accounting, disclosure and corporate governance matters dating back to January 2007, Freddie Mac said in a statement.

    Freddie Mac and Fannie Mae were both seized by the government and put into conservatorship Sept. 7 after mounting losses tied to subprime mortgage investments. The Treasury has agreed to invest up to $200 billion in the two companies to prevent them from collapsing.

    The grand jury subpoena came from the U.S. attorney’s office for the Southern District of New York.

    http://www.bizjournals.com/dayton/st...9/daily11.html

    I hope some heads roll for that one. Don't care whose heads either.
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  3. #3  
    Senior Member cat714's Avatar
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    Quote Originally Posted by BadCat View Post
    I hope some heads roll for that one. Don't care whose heads either.
    Agreed. This is disgusting.
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  4. #4  
    CU Royalty JB's Avatar
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    Quote Originally Posted by LibraryLady View Post
    The subpoena seeks documents relating to accounting, disclosure and corporate governance matters dating back to January 2007, Freddie Mac said in a statement.
    They need to go back further than that.
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  5. #5  
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    Quote Originally Posted by BadCat View Post
    I hope some heads roll for that one. Don't care whose heads either.
    Amen, and amen.

    (repeated to meet the "ten character minimum")
    "Today, [the American voter] chooses his rulers as he buys bootleg whiskey, never knowing precisely what he is getting, only certain that it is not what it pretends to be." - H.L. Mencken
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