Taxpayers foot the bill for Fannie, Freddie Exec Legal Bills- $109 million and counting

[n2doc]

By MARCY GORDON

updated 2/22/2012 12:09:20 AM ET

WASHINGTON — The U.S. government regulator for Fannie Mae and Freddie Mac must do a better job limiting legal expenses paid by the two mortgage giants to their former executives facing lawsuits, a new watchdog report says.

A report issued Wednesday by the inspector general for the Federal Housing Finance Agency says Fannie and Freddie together have paid more than $109 million in legal expenses for former executives since 2004, with Fannie covering more than $99 million for just three top officials.

Taxpayers are footing the bill: The bailouts of the two companies have so far cost about $150 billion and that figure continues to grow.

The report says the agency should develop standard legal billing practices for Fannie and Freddie, expand its oversight and take other steps.

http://www.msnbc.msn.com/id/46476274/ns/business/t/watchdog-limit-fannie-freddie-legal-fees-more/#.T0kzVZhxuKI

[LiberalEsto]

1. Whoever is 'regulating' Fannie and Freddie

must have been semi-comatose for decades, and remains so.

[Rex]

2. Another bailout?

[socialindependocrat]

3. Listen to this...

My neighbors home went into foreclosure and the bank couldn't seel the house. The Bank sold the mortguage to Freddie and so now "we the taxpayers" are going to take the hit for the loss.

You got a problem with millions?

You ain't seen nothin yet folks!!!!!!