Fraud at Fannie Mae - who'd a thunk it?
Try this for a good discussion of what's going on at our newly acquired lending institution. It all reminds me of the Savings and Loan collapse. A friend of mine was hired by the government to examine the loan files of several failed banks. He found literally file cabinets full of fraudulent loans but was basically told, "forget it - prosecuting these guys is so yesterday". Our regulators just wanted to close things up and move on and that's what they did. The rotten bankers probably moved on to Fannie Mae.