Rep. Waxman Starts Beating Up On Fannie, Freddie Execs
Rep. Henry Waxman (D-Calif.) has kicked off his House Committee on Oversight and Government Reform beat-down of former Fannie Mae and Freddie Mac executives arrayed before him right now as blame is placed for the mortgage giants' role in the sub-prime crisis.
It's a classic Waxman stemwinder, complete with obtained and flammable internal Fannie and Freddie e-mails.
Waxman read a 2004 e-mail from a former Freddie risk manager to former Freddie chief executive Richard Syron, seated before Waxman, warning Syron that Freddie was taking too much mortgage risk.
"Mr. Syron did not accept the chief risk officer's opinions," Waxman said. "Instead, the company fired him."
December 9, 2008; 10:18 AM ET
Categories: The Ticker | Tags: Fannie, Freddie, Waxman
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Posted by: xmlconsultant | December 9, 2008 12:41 PM | Report abuse
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