- A former Bank of America mortgage executive who is a defendant in an FHFA lawsuit over MBS and named in a DOJ lawsuit is now plying his trade for Fannie Mae (FNMA.OB).
- "There aren't that many people out there with expertise that don't have a potentially tainted background," says one lawyer. "It's consistent with their policy that they no longer prosecute elite bankers," says William Black, who helped clean up the S&L crisis 20 years ago. Executives "can go next door and ever walk into an entity that is supervised and owned by the U.S. government."
Government needs those behind mortgage mess to fix it
Aug 14 2013, 07:01 ET