ISSA ASKS FOR DETAILS OF FANNIE, FREDDIE LEGAL FEES

House Committee on Oversight and Government Reform Chairman Darrell Issa (R-Calif.) wants to know why lending giants Fannie Mae and Freddie Mac are still paying the legal bills for their former executives, the Legal Times reported yesterday. Those bills have run well into the millions of dollars - $24.2 million to defend the former executives and $160 million overall to defend them and the companies in various lawsuits, the New York Times reported this month. Issa yesterday released a letter to the Federal Housing Administration asking for a "full and complete explanation" of the decision to "continue advancing legal fees on behalf of former executives." The letter also asks for employment contracts for former executives Franklin Raines, Timothy Howard, Leanne Spencer and Leland Brendsel, and for communications involving the companies, the Treasury Department and the White House
 http://dizzy.abiworld.org/t/1515391/201584/6701/0/y