Thursday, March 31, 2005

Open Corruption Rampant

A new report put out by the Program on Corporate Governance at Harvard Law School attacks the "perverse incentives" at Fannie Mae. The Washington Post reports, "The study, distributed yesterday by the Program on Corporate Governance at Harvard Law School, also took Fannie Mae's past pay practices to task for rewarding "failed" executives."

It says volumes about ethics in corporations and the government that men could commit fraud in the billions and still receive golden parachutes. Where are the prosecutors?


At 5:01 PM, Anonymous Anonymous said...

Did you post this one?
How Widespread Appraisal Fraud Puts Homeowners at Risk
by david callahan

It is pdf file. I dont remember the site. a google should find it. Should be prominently posted on your site , I suppose.

The only institution that had interest in a true appraisal was the abnk loaning the amount. Now with fannie Mae coming into picture and the securitsation of mortgage loans, they offload the risk to some one else.
True large scale default of mortage payments will bring the BOND market to a halt!

Other than cash and gold is there any safer locations to park the money in the mean time?

At 5:22 PM, Anonymous Anonymous said...
here is the link to that report

At 6:02 PM, Blogger Ben Jones said...

Actually I did, see:

From March 29th. I appreciate links very much! Thank you.

I like Swiss Francs because they have a gold hedge and I can draw interest...Ben


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