Wednesday, February 15, 2012
Jonathan Stempel and Steve Gorman, Reuters
Submitted by: Editor

Individual Execs Under Fire By FHFA

The Federal Housing Finance Agency has filed 18 lawsuits in a major effort to hold actual people, not just companies, responsible for their roles in the global financial crisis.

[Reuters] Stempel writes, "By suing 131 individuals in its effort to recover losses on $200 billion of mortgage debt that went sour, the federal agency overseeing mortgage giants Fannie Mae and Freddie Mac is doing one thing that the government has largely left alone."

[Reuters] The lawsuits don’t target the biggest fish like Alan Schwartz, Dick Fuld, Ken Lewis, or Kerry Killinger—no “household names,” Stempel says. Those guys insulated themselves with some degree of plausible deniability regarding what their underlings were doing.

Three big cheers for Reuters and Stempel for covering this story. Nonetheless, we all deserve more information about each one of the 131 individuals implicated in these lawsuits.

Posted by Editor on 02/15/12 at 11:53 AM •  (0) Comments

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