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The Swarm Lounge
General Investing and Economics Discussion - No Politics
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<blockquote data-quote="GT_EE78" data-source="post: 690209" data-attributes="member: 3434"><p>guess posting here is as close as i can find ...</p><p>is anyone else irritated that 16 of the biggest banks can steal nearly a $Billion and it gets so little media attention??</p><p>Pennsylvania Treasurer Joe Torsella first filed the lawsuit in March against 16 of the nation’s largest banks, for colluding to fix prices of Fannie Mae ( <a href="https://qr.fidelity.com/embeddedquotes/redirect/research?symbol=FNMA" target="_blank">FNMA) and Freddie Mac ( </a><a href="https://qr.fidelity.com/embeddedquotes/redirect/research?symbol=FMCC" target="_blank">FMCC</a></p><p><a href="https://qr.fidelity.com/embeddedquotes/redirect/research?symbol=FMCC" target="_blank">) bonds — government-sponsored entity instruments — between 2009 and 2016</a></p><p><a href="https://qr.fidelity.com/embeddedquotes/redirect/research?symbol=FMCC" target="_blank">Assuming classwide damages of $857 million, the total recovery of $386.5 million represents nearly 59% of the 16 defendants’ proportionate share of single damages, Torsella said.</a></p><p><a href="https://eresearch.fidelity.com/eresearch/evaluate/news/basicNewsStory.jhtml?symbols=FNMA&storyid=201912200937SM______BNDBUYER_0000016f-19b0-d13f-ab6f-7ff150e10000_110.1&sb=1" target="_blank">https://eresearch.fidelity.com/eresearch/evaluate/news/basicNewsStory.jhtml?symbols=FNMA&storyid=201912200937SM______BNDBUYER_0000016f-19b0-d13f-ab6f-7ff150e10000_110.1&sb=1</a></p></blockquote><p></p>
[QUOTE="GT_EE78, post: 690209, member: 3434"] guess posting here is as close as i can find ... is anyone else irritated that 16 of the biggest banks can steal nearly a $Billion and it gets so little media attention?? Pennsylvania Treasurer Joe Torsella first filed the lawsuit in March against 16 of the nation’s largest banks, for colluding to fix prices of Fannie Mae ( [URL='https://qr.fidelity.com/embeddedquotes/redirect/research?symbol=FNMA']FNMA) and Freddie Mac ( [/URL][URL='https://qr.fidelity.com/embeddedquotes/redirect/research?symbol=FMCC']FMCC ) bonds — government-sponsored entity instruments — between 2009 and 2016 Assuming classwide damages of $857 million, the total recovery of $386.5 million represents nearly 59% of the 16 defendants’ proportionate share of single damages, Torsella said.[/URL] [URL]https://eresearch.fidelity.com/eresearch/evaluate/news/basicNewsStory.jhtml?symbols=FNMA&storyid=201912200937SM______BNDBUYER_0000016f-19b0-d13f-ab6f-7ff150e10000_110.1&sb=1[/URL] [/QUOTE]
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