Items Tagged with 'Richard Syron'


  • It’s over: SEC settles with Freddie Mac executives

    Former Freddie Mac CEO, others faced charges over subprime mortgages
    The Securities and Exchange Commission’s high-profile case against several former Freddie Mac executives over allegedly misleading investors about the quality of subprime mortgages is now over, and it ended rather quietly.
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  • Committee Grills Ex-Officers on Fannie, Freddie 'Irresponsibility'

    The Committee on Oversight and Government Reform on Tuesday conducted a hearing to probe the role of government-sponsored entities Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] in the financial crisis. The Committee heard testimony from former Fannie executives Daniel Mudd, Franklin Raines, and Edward Pinto, as well as Freddie executives Leland Brendsel and Richard Syron.
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  • No Golden Parachutes For Ex-CEOs at Fannie, Freddie

    For now ex-CEOs Richard Syron and Daniel Mudd, their departure from Freddie Mac [stock FRE][/stock] and Fannie Mae [stock FNM][/stock] won't line their pockets, after investor and taxpayer uproar over both executives' severance packages. In total, both men would have made roughly $25 million under the terms of their employment contracts, a total that the financial press regularly crowed about as being excessive in the wake of the government placing both companies into conservatorship last week.
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  • Dem Lawmaker Probes Causes of GSE Share Slide: Report

    At least one lawmaker is questioning the series of events that led shares of both Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] to tank in the past month, giving some legs to private rumblings by various Street analysts and other market participants. Rep. Henry Waxman (D-CA), chairman of the House Oversight and Government Reform Committee, has asked CEOs of both GSEs if there is any evidence of White House officials tampering with their share prices.
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  • Freddie: Much Worse Than Expected

    Bottom line, the second quarter was rough on ailing mortgage finance giant Freddie Mac [stock FRE][/stock]; and that's not considering the drubbing the company's shares have already absorbed in equity markets during the past month.
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  • A Firestorm for Freddie

    One day before mortgage finance giant Freddie Mac [stock FRE][/stock] is scheduled to report second quarter earnings, a Tuesday report at the New York Times has managed to stir up the latest controversy surrounding the GSE, suggesting that CEO Richard Syron ignored advice from internal advisors regarding financing risky loans.
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  • GSE Shares, MBS Prices Ride Rollercoaster; Whither Thou, Discount Window?

    Shares in Fannie Mae [stock FNM][/stock] and Freddie Mac [stock FRE][/stock] recovered late Friday somewhat from an incredible downswing that had reached as far as 50 percent off early on Friday, after Treasury secretary Henry Paulson stressed that no plans to bail out either GSE were imminent, and reports circulated that Fed chief Ben Barnanke told Freddie CEO Richard Syron that the two enterprises could access the discount window.
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