House Rep Wants Audit Of Fannie, Freddie Legal Fees

Law360, New York (November 23, 2010, 1:42 PM EST) -- Rep. Randy Neugebauer, R-Texas, is calling on federal officials to provide a "full and clear accounting" of how taxpayer dollars are being spent on legal defenses for beleaguered government-backed mortgage giants Fannie Mae and Freddie Mac and three former Fannie executives.

Neugebauer, the deputy ranking Republican on the U.S. House of Representatives Financial Services Committee, said in a letter sent Monday to Federal Housing Finance Agency acting Director Edward DeMarco that he was concerned that “taxpayers are stuck picking up the tab for ongoing legal counsel...
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