Posted 1 year ago on Dec. 28, 2011, 4:57 p.m. EST by GirlFriday
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ore than 4,000 companies, organizations and individuals submitted ideas to the federal government this fall, Bloomberg reported. Of those, about 400 proposals are considered valid. UBS, Deutsche Bank AG, Barclays Capital Inc. and others submitted ideas, according to Bloomberg.
The National Law Center on Homelessness and Poverty also registered its suggestions, Rosen said.
Perhaps most notable is a proposal from Fortress Investment Group, LLC, a private equity firm helmed by former Fannie Mae CEO Daniel Mudd. Earlier this month, the SEC sued Mudd for alleged wrongdoing during his tenure at Fannie, claiming that he lied about the amount of risk the mortgage finance giant was taking on during the housing boom. Many of the foreclosed homes now owned by the federal government had mortgages underwritten by Fannie. In proposing to help the government unload those homes, Mudd would be profiting off a problem he may have helped to fuel.
It is never enough. Never. You could possibly screw people just a little bit more.