{"id":10088,"date":"2008-12-10T22:03:27","date_gmt":"2008-12-10T22:03:27","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/fannie_freddie_execs_ignored_warnings_about_risky_loans\/"},"modified":"2008-12-10T22:03:27","modified_gmt":"2008-12-10T22:03:27","slug":"fannie_freddie_execs_ignored_warnings_about_risky_loans","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=10088","title":{"rendered":"Fannie, Freddie execs ignored warnings about risky loans"},"content":{"rendered":"<p>But panel members lambasted the executives for taking undue risks to win bigger bonuses and for failing to take responsibility for a housing crisis that has ravaged the economy.<\/p>\n<p>&#8220;Their irresponsible decisions are now costing taxpayers billions of dollars,&#8221; said committee Chairman Henry Waxman, D-Calif.<\/p>\n<p>Fannie and Freddie own or guarantee half of outstanding home loans and became the largest buyers of subprime and Alt-A mortgages, both of which have had high rates of defaults. Alt-A, a category between subprime and prime, did not require documentation of income or assets. With the firms facing $12 billion in credit losses this year, the government took over both in September.<\/p>\n<p><a href=\"http:\/\/www.usatoday.com\/money\/economy\/housing\/2008-12-09-fannie-freddie_N.htm\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>But panel members lambasted the executives for taking undue risks to win bigger bonuses and for failing to take responsibility for a housing crisis that has ravaged the economy. &#8220;Their irresponsible decisions are now costing taxpayers billions of dollars,&#8221; said<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=10088\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[40,595,149,600],"tags":[],"class_list":["post-10088","post","type-post","status-publish","format-standard","hentry","category-economics-politics","category-credit-markets","category-economy","category-housingreal-estate-market"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/10088","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10088"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/10088\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}