Recoup Taxpayer Losses

The Federal Housing Finance Agency issued 64 subpoenas to Wall Street Firms requesting documents and files pertaining to the sale of mortgage backed securities to Fannie Mae and Freddie Mac.   Government regulators are looking for false statements or omissions that might have led to the sales of these securities being fraudulent.  Fannie Mae and Freddie Mac had tried to get this information but were unsuccessful. Perhaps the government can recoup some of the $145 billion dollars lost by Fannie and Freddie in the loan debacle.  Let's not forget that these two government controlled companies are culpable in this mess for relaxing the guidelines used in procuring home loans.  Strict guidelines that determine affordability and consumer suitability protect everyone, especially the consumer.