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Fannie, Freddie get federal grand jury subpoenas

By Michelle Malkin  •  September 29, 2008 10:49 AM

The crony pseudocapitalists at Fannie Mae and Freddie Mac have been served federal grand jury subpoenas. Better late than never:

Fannie Mae and Freddie Mac, the U.S. mortgage finance giants that were taken over by the government this month, said on Monday they were subpoenaed for documents as part of a federal grand jury investigations into their accounting.

The U.S. Attorney’s office for the Southern District of New York subpoenaed the two on Friday for documents related to accounting, disclosure and corporate governance dating from January 1, 2007 to the present.

The Securities and Exchange Commission is also investigating these matters and directing the companies to preserve the documents…

How about serving Maxine Waters, Barney Frank, Gregory Meeks, and company while they’re at it?

***

Related: Fannie Mae and Freddie Mac Invest in Lawmakers

Previous Fannie Mae blogging here.

Posted in: Subprime crisis

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Comments

  1. #1
    On September 29th, 2008 at 10:52 am, rightwingrocker said:

    ‘Bout time.

    Guess they finally finished with the oil execs …

    RWR
    http://www.rightwingrocker.com

  2. #2
    On September 29th, 2008 at 10:53 am, b-cat said:

    I’m sure the details of the bailout bill will provide the cover for those responsible. I remain doubtful that Frank, Dodd, Gorelick & Co. will ever be indicted.

  3. #3
    On September 29th, 2008 at 10:53 am, thefoundingfathers said:

    Are Frank Raines and Jim Johnson included in the subpeonas? The Obama bus needs more speed bumps.

  4. #4
    On September 29th, 2008 at 10:53 am, Mister P said:

    I am interested into investigations that finally nail some of our politicians. Barney Frank, Barrack Obama, Schummer, Reid and whatever Republican that aided and abetted.

  5. #5
    On September 29th, 2008 at 10:54 am, Goldwater Knight said:

    There is a single ray of Justice piercing the dark of night.

  6. #6
    On September 29th, 2008 at 10:54 am, Mister P said:

    By the way, their is word that Resko will talk :-)

  7. #7
    On September 29th, 2008 at 10:55 am, jencab said:

    I want to see the democRATS involved in this mess with orange jumpsuits answering to Bubba in their prison cells.

  8. #8
    On September 29th, 2008 at 10:55 am, Rogue Cheddar said:

    Hear that sound? That’s the sound of many limited edition “Anderson Little” paper shredders working overtime!

  9. #9
    On September 29th, 2008 at 10:58 am, gayle said:

    This should have been done and completed BEFORE this bailout deal was rushed!

    Odd isn’t it?

  10. #10
    On September 29th, 2008 at 11:04 am, John Deaux said:

    On September 29th, 2008 at 10:54 am, Mister P said:
    By the way, their is word that Resko will talk

    That smells like someone’s cooking up an October Surprise!

  11. #11
    On September 29th, 2008 at 11:05 am, mdt said:

    This will only last until Nov 4 - until Obama wins. Then all is forgiven…

  12. #12
    On September 29th, 2008 at 11:07 am, cheapseat said:

    unfortunately i see another massive fine for fannie and freddie, this time paid for with taxpayer money, and no culpability for any one. it takes a village has become the mantra of ameriKa and the smart money will soon be flowing like water through a firehose into other countries. whichever banks survive this socialist debacle, the investment arm will be heading for tax havens, while the money losing banking sectors will remain right here where bailouts are as close as your local democrat congressman.

  13. #13
    On September 29th, 2008 at 11:07 am, et said:

    There is a time for subpoenas and a time for search warrants. This is a time for the later.

  14. #14
    On September 29th, 2008 at 11:10 am, tyrfing said:

    Yes, throw us some scapegoats please!

  15. #15
    On September 29th, 2008 at 11:17 am, RedDog said:

    Dissolve these abortions and put their officers and congressional backers in jail - NOW.

  16. #16
    On September 29th, 2008 at 11:19 am, GaryG said:

    Let’s just hope none of the investigators and courts don’t succumb to payoffs, bribes, and a “better” job offer.

  17. #17
    On September 29th, 2008 at 11:26 am, mojoe said:

    Only from January 1, 2007 to the present?

    This corpse was rotting well before that.

  18. #18
    On September 29th, 2008 at 11:28 am, geminicontender said:

    Subpoena them all regardless of party. Of course I feel pretty confident that the Dem’s are probably 95% responsible for this crap. They are liars and cheats. Why is it that all the Democratic states, i.e. Michigan, Louisiana…..are the states that never succeed? Watch what Jindal does in the coming years when corruption is told to take a hike.

  19. #19
    On September 29th, 2008 at 11:28 am, uhangtight said:

    i hope this bailout bill doesn’t not impede this investigation. i want to see some congress critters investigated as well. i would like to see frank doing the perp walk, he’d be right at home in a cell. it’s his turn to bend over, oh wait, i guess he has been in that position before..

  20. #20
    On September 29th, 2008 at 11:30 am, RabbidSquirrel said:

    Why bother.

    It will be just like bringing oil company executives to Capitol Hill.

    Nothing will be found, nothing will be changed and no one did ‘anything wrong’.

  21. #21
    On September 29th, 2008 at 11:31 am, Marc said:

    The Hartford Courant (www.courant.com) has a devastating expose on Senator Christopher Dodd’s financial gifts from the financial services insudstry, including the worst offenders. Lehman Brothers lined the campaign coffers of Mr. Dodd. Dodd had supereasy relection campaigns facing only token opposition so you have to wonder why Lehman Brothers and Wachovia and others were so eager to help out Mr. Dodd. Maybe Mr. Dodd and Lehman Brothers disgraced CEO/Chairman Richard Fuld, Jr. can get together and discuss how they are both victims.

  22. #22
    On September 29th, 2008 at 11:32 am, CrazyFool said:

    Look for Chris Dodd and Barny Frank to slip something in the bailout to give Freddie Mac and Fannie Mae cover.

    After all isn’t that what they are being paid for?

  23. #23
    On September 29th, 2008 at 11:34 am, d1carter said:

    I want to see Dodd,Frank and Schumer under grilled under oath.

  24. #24
    On September 29th, 2008 at 11:47 am, BobonStatenIsland said:

    About time….but, I seriously doubt anything that would be considered a real revelation to the public will come of it. And as far as Tony Resko talking….only if the can keep him and his family safe and they can’t guarantee that. If you think I kid you, do some research into Reagan’s first Labor Secretary Donavan. Nobody will talk. You can even get these currupt polls on tape (Murtha with Abscam) and not only does nothing happen but the public RE-ELECTS THEM!

  25. #25
    On September 29th, 2008 at 11:48 am, Jaded said:

    It’s a start thought it should have started much sooner….I hope they turn on their congressional benefactors!

  26. #26
    On September 29th, 2008 at 11:55 am, cheapseat said:

    funny how the three states (new jersey, new york, and connecticut) are the bluest of blue and when the crap hits the fan with them, they are always looking to midwest red states for the bailout. didn’t we bail them out of bankruptcy in the 80’s or 70’s? they are like new orleans, we spent the levy money on corruption and gambling casinos so when the flood came, fix us again. dodd, schumer, frank, corzine, clinton, the entire government of new jersey, and numerous others need to serve time for massive fraud and conspiracy to commit fraud. scooter libby goes to jail for an offence everyone knew wasn’t committed by him, while frank and dodd walk blithely away from the biggest fraud perpetrated on this country in a century. go figure!

  27. #27
    On September 29th, 2008 at 12:11 pm, FilmLadd said:

    On September 29th, 2008 at 11:55 am, cheapseat said:

    frank and dodd walk blithely away from the biggest fraud perpetrated on this country in a century. go figure!

    Musollini and Hitler got away with their evils for quite a long time, too. But they got theirs.

    Lenin, Stalin et. al. died of old age.

    Napoleon was probably poisoned, or else died of cancer, in exile.

    One can only hope that this new set of collectivist kleptocrats will end the way of El Duce.

    From a rope.

    Aegri somnia vana!

  28. #28
    On September 29th, 2008 at 12:16 pm, Laree said:

    Why is this power grab happening right now? Whats up with the timing? Something triggered this but I am not so sure it wasn’t political.

  29. #29
    On September 29th, 2008 at 12:21 pm, JosephAD said:

    Add Andrew Cuomo to the list!

  30. #30
    On September 29th, 2008 at 1:13 pm, AlohaGuy said:

    Gorelick and Frank can save the taxpayers money by sharing a cell. Put up those imaginative Chinese walls Gorelick loves so much and neither will know the other is there. Except for the brothel.

  31. #31
    On September 29th, 2008 at 1:44 pm, emjem24 said:

    These FM bastards and their congressional co-conspirators need to go. Has anybody subpoenaed Jamie Gorelick to see what her role was in all this? How ’bout Raines? Johnson?

    All these jerks need to have very long prison terms. Especially the politicians taking the FM money to keep quiet and let the fraud continue. This cannot be tolerated and accepted.

    Yet, the Dems like lgm will continue to vote in their Congress critters because Dems are hellbent on turning our country away from a republic to a Socialist paradise. This is a win-win for Dems.

  32. #32
    On September 29th, 2008 at 1:58 pm, oldcollegeguy1980 said:

    Thank God.

    i submit that before any bailout/Workout/handout/handup, happens, a frog-march must proceed it.

    Let the chips fall where they fall.

  33. #33
    On September 29th, 2008 at 1:58 pm, Buy Danish said:

    January 2007 to the present? When Raines, Johnson, and Gorelick were no longer on the board?

    I smell a rat, and an attempt to blame, say, Louis Freeh who came in at the end but was not a part of the triumvirate of corruption.

  34. #34
    On September 29th, 2008 at 2:50 pm, Osama Bin PorkChop said:

    Hang ‘em, hang ‘em high.….that’s all I have to say

  35. #35
    On September 29th, 2008 at 3:43 pm, normsrevenge said:

    Fannie, Freddie get federal grand jury subpoenas

    Now this IS Good News!!!

    Look forward to the perp walks.. someday.

  36. #36
    On September 29th, 2008 at 8:24 pm, Micheleeroo said:

    How about serving the Fannie Mae executives who cooked the books (a la Enron, people) in order to get their fat bonuses that they apparently did not deserve?

  37. #37
    On September 30th, 2008 at 12:09 am, Terry_Jim said:

    We’ll hear it soon,

    “Uhhhhhhh, those, ummmmm,…
    aren’t errrrrrrrr the Frank Raines and ummmm ,Jim Johnson that I ,uhhhhh, thought I knew.”

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