There is no hope, till the fraud is prosecuted, not encouraged!!!!!!!!!!!!!!!!
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By Jonathan Stempel
(Reuters) - Wall Street banks that helped Fannie Mae (FNMA) sell stock won the dismissal of shareholder lawsuits accusing them of fraud or negligence for misleading them about the mortgage financier's exposure to risky home loans before the government seized it in 2008.
In a decision covering four lawsuits, U.S. District Judge Paul Crotty in Manhattan on Thursday also let Fannie Mae shareholders pursue new securities fraud claims against the company, former Chief Executive Daniel Mudd and former Chief Risk Officer Enrico Dallavecchia.
Crotty ruled 20 days after letting the U.S. Securities and Exchange Commission pursue its civil fraud lawsuit against Mudd, Dallavecchia and former Executive Vice President Thomas Lund.
The SEC accused them of misleading investors by not disclosing exposures to risky mortgages, including subprime and low-documentation "Alt-A" loans, totaling more than $440 billion.
In that decision, Crotty said those executives "must have known that Fannie Mae's disclosed subprime and Alt-A exposure calculations were materially misleading," and
http://finance.yahoo.com/news/wall-street-banks-win-end-215750673.html?l=1
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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