Federal Housing Finance Agency Structure Ruled Unconstitutional

Fifth Circuit COA Ruled Government Regulator Federal Housing Finance Agency Is Unconstitutional The Court of Appeals for the Fifth Circuit ruled this week that the Federal Housing Finance Agency is not constitutionally structured. The Federal Housing Finance Agency or FHFA is the oversight for Fannie Mae and Freddie Mac. The government created the FHFA was in […]

The Oddest Revelation From the Bank of America Fraud Suit

Jonathan Weil, Bloomberg There is something very weird about the civil complaint the Justice Department filed this weekagainst Bank of America Corp. (BAC) for allegedly defrauding Fannie Mae and Freddie Mac. Prosecutors are suing under a statute called the False Claims Act, which imposes liability on those who defraud the federal government. Curiously, the suit is seeking damages for acts that Countrywide Financial Corp. committed before Fannie […]

I was quoted in the Michigan Messenger About The FHFA Lawsuits

Feds sue banks over toxic mortgage securities Todd Heywood, Michigan Messenger The Federal Housing Finance Agency filed suit Friday against 17 national and international banking giants for their roles in the toxic mortgage securities scandal that led to the current housing crisis. The banks include Bank of America, Citigroup, Countrywide, JP Morgan Chase and others, […]

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