Leaders of the Federal Housing Finance Agency and Fannie Mae will testify before a House subcommittee Tuesday defending more than $410 million in legal fees spent at Fannie and Freddie Mac since entering conservatorship in September 2008.Looting the taxpayers for fun and for profit. We'll bet Franklin Raines' favorite Attorney General is Eric Holder.
In January, Rep. Randy Neugebauer (R-TX) released data detailing legal fees spent for officials who led Fannie and Freddie before, during and after the financial crisis.
Since conservatorship, Fannie paid $24 million in legal fees in defense for former CEO Frank Raines ($7.9 million), former Chief Financial Officer Tim Howard ($4.5 million) and former Controller Leanne Spencer ($11.8 million), according to the data. Combined, both companies spent more than $57 million in legal fees for executives since conservatorship. Fannie's share was $51.7 million, and Freddie's was $5.7 million.
Tuesday, February 15, 2011
FHFA, Fannie set to defend legal fees before House
The Housing Wire reports:
