Wednesday, February 22nd, 2012 and is filed under News
Not only did Freddie and Fannie cost taxpayers billions in bailout funds and destroy the housing market, now they are racking up expensive legal bills. The Inspector General for the Federal Housing Finance Agency found that Freddie and Fannie shelled out $100 million to pay for the legal fees of three top executives. They are being sued for allegedly using accounting tricks to inflate Fannie’s stock price and maximize their bonuses. Taxpayers are being forced to foot the bill.
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