No company or agency should be exempt from the FOIA where the public has a right to know.

The excuses in this article are a smoke screen.

It seems to me that if someone (agency, entity, company, etc.) is going to take billions of taxpayer dollars there should be a level of transparency.  I can sympathize with the agency.  I’ve worked with numberous FOIA requests.  They can be rather agonizing, but when we have such large companies that have such HUGE amounts of bad debt (and taxpayers, taxpayer’s children/grandchildren are bailing them out) the public has a right to know how their money is being spent.  It would be painful and expensive to make this level of transparency happen, but the expense is nothing compared to the level of dollars used to bail out Fanny and Freddie.

WE ARE ORGANIZING AGAINST THE MORTGAGE FRAUDSTERS—-GO TO:

LIVINGLIES(DOT)WORDPRESS(DOT)COM

LEARN THE TRUTH THAT’S BEING KEPT FROM YOU!!

(sorry, they don’t let you post a link here)

This den of thieves and con artists named Freddie and Fannie may be legally considered private companies but all their business derives from dealing with the PUBLIC…

So that once the mere scent of defrauding the public by being “under investigation” is fact…the public that’s possibly been defrauded (frist through business and then through extortion-taxation) not only has a need and right to know how and why it was defrauded but the public also requires, at this point, a complete transparancy to figure out if this theft and fraud were systemic or not.

What these cons and thieves and shielders of cons and thieves are in fact trying to pull by keeping a probable cosmic fraud “under wraps” is “hiding the evidence” of their theft and fraud.

And if they won’t reveal the evidence of their fraud and theft because a regulator wants to shield them its about time they were hauled off to a REAL courtroom by law enforcement to face an evidentiary trial.

As for “attracting talent”...this is a euphemism for: attracting the sort of people that can keep their mouths shut in helping their bosses to plunder and connive.

This “shielding” in high places is exactly why “conspiracy theories” are all that’s left us.

Obviously, a private company should only have to respond to information requests where public funds or health are at risk.
Unfortunately for the hyenas at the former FNMA and FMC, it was, and is, all public funds. 
As to attracting talent, the problem they have is with attracting moral talent.  There is no great derth of talent in this world, especially when your sole function is to make a decision to lend money to someone with the government’s money (IE, there is absolutely no risk to the individual making the decision to lend but only risk to the taxpayer).
So we got wunderkind like Franklin Raines and Timothy Howard driving the “company” into the ground from 1998 to 2004 while simultaneously fighting off regulation, lawsuits, affordable housing advocates, and (get this) COLLECTING $115M in BONUSES!  (is that right, or is “Boni” the plural… or is it “Bone-U”, as in Boning U the Taxpayer).

YES, Dom M.—-

“They” also have a great “talent” for the “blank, innocent stare”, and the phrase “I’m not sure what you’re talking about”, when confronted with questions about ethical business practices…a culture of sociopathic materialism that is STILL unregulated and unprosecuted…hell, they work at the White House now!!  A Wall Street government, people—-we still have it…and they are laughing all the way to their off-shore accounts…

Even if you have seen the Academy Award winning movie “Inside Job” already, watch it again—-keep the outrage alive—-this is FAR from over!!!

Where is the public outrage. This Fannie and Freddie have been a cash cow to there executives for way too long. Not to mention the massive bailout with tax payer dollars. The executives did reach into their pockets even though they were taking millions in bloated salery as the sunk the ship and deployed their golden parachutes.

Where is the public outrage?

If ignorance is bliss, there should be a lot more happy people, but alas the average person does not have or want adequate information.

The NYT describes Gretchen Morgenson’s new book, RECKLESS ENDANGERMENT, as “A tight web of personal relationships connected Fannie Mae, Goldman Sachs and public officials”. That says it all.

This is why we need ProPublica, and talented reporters like Marian Wang!

Most people don’t realize it but from my view point Freddie and Fannie were double dipping on loans on the same property.  In other words one loan that was pledged to both Fannie and Freddie.  I hope Propublic uncovers this one because it truly is the tip of an iceberg. 

Also there is another Class Action against Freddie Mac.  They are promising to pay for title insurances if a purchaser of their foreclosed properties uses their recommended vendor.  When the purchaser tries to collect Freddie Mac says, oh we don’t follow that procedure.

And could this be because Freddie has about $1.8B in fraudulent transfers as the bankruptcy attorneys for Taylor Bean and Whitaker opine in one of their filings hint, hint, Propublica Re: Case 3:09-bk-07047-JAF Doc 1531 Filed 06/10/10.

The only reason to do this is obvious….......there is corruption through and through and they don’t want the names of the individuals responsible released….......they have assumed they have dumbed down the public enough they will accept this outcome

Through the years the Republican Party or its lackeys seldom make a move I agree with, and I historically vote straight Democrat.  However, the two parties are now inescapably corrupted and in bi-partisan fashion.  At this point one must vote for the candidate who might stand up regardless of party.  Rep Chaffetz (R-Utah) is logically and irrefutably correct in asking that Fannie-Freddy be bound by FOIA, especially considering our massive tax dollars they benefit from.
  Regulator DeMarco’s testimony (see PDF referenced in report) contains a section named Subjecting Fannie-Freddy to FOIA.  The reasoning he gives for resistance to FOIA is so weak and nonsensical it is not worthy of debate.  Cost of compliance is part of his reasoning.  If cost of compliance is a valid argument, then, I suppose, no entity should fall under FOIA.
De Marco also claims that if taxpayers are relieved from paying the vast legal fees of F&F employees, then:  “Forcing employees to pay their own legal expenses would make it harder for F&F to attract talent.”  Pray tell me, then, what kind of talent are they wishing to attract if not more of the same slimy ilk who expect to end up with taxpayer funded legal defense costs?
  Skartishu, Granby MO

If “Fannie and Freddie did not cease to be private legal entities”

HOW

“DeMarco has defended billing taxpayers for the legal fees”

is LUDICROUS

I can’t refrain from laughter at the thought of someone in this economy solemnly worrying about the possible difficulty of recruiting or retaining executives.
Hello??? Buddy, ever heard of the Great Recession? News flash - I do not want to shock you but there are several hundred thousand people who could do this job well. And millions more who could do it somewhat competently - which would be a step up for the Fan Fred disaster zone.
How ‘bout heading back here to earth, and readjust to breathing air.
And, BTW, people you need to hire should not shy away from the job at the absence of a promise of free legal advice. They should be moral people, grateful for a good job and careful with the tax funds they swim in.
Please resign immediately. And do not ever again make a public state, K?

Follow the money. Follow where our goverment officals go after they are out of office. If it is to frannie and freddie they should be reminded of it daily for the rest of there lives.

Regarding a loan modification (third try) with IndyMacBank/OneWestBank.  I can see after reading several days worth of bloggs they have no intention of working with us (although we’ve never missed a payment, and have case #‘s with the Thrift & Loan Wash, DC, Attorney General, State of Arizona, and more recently with the Comtroller of the Currency Administrator of National Banks (ever heard of that?) thinking that would push them along…not happening.
Is anyone considering a class action to stop this fraud?
What next for all of us out here needing help?
Thanks
Mary
480 949 8305