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SEC Charges Former Fannie Mae and Freddie Mac Executives with Securities Fraud

News release: “The Securities and Exchange Commission [December 16, 2011] charged six former top executives of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac) with securities fraud, alleging they knew and approved of misleading statements claiming the companies had minimal holdings of higher-risk mortgage loans, including subprime loans.

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