Former Fannie Mae CEO Didn't Lie To Investors, Atty Says

Law360, New York (July 18, 2012, 8:13 PM EDT) -- A lawyer for former Fannie Mae CEO Daniel Mudd on Wednesday urged a federal judge to throw out a U.S. Securities and Exchange Commission suit over Fannie's alleged lies about its subprime exposure, saying he never materially misled investors.

Despite spending "tens of millions of dollars of taxpayer money," the SEC has produced no evidence that Mudd or other Fannie executives made misstatements in disclosures to investors, Mudd's attorney, James Wareham of DLA Piper, told U.S. District Judge Paul A. Crotty at a hearing Wednesday....
To view the full article, register now.