Ex-Fannie Mae CEO Daniel Mudd Waxes Nostalgic For The Good Old Days

Author:
Updated:
Original:

As Wall Street bonuses bulged and housing prices were peaking in 2005, Daniel Mudd found himself dreading his top job at Fannie Mae. Going to work felt like “a choice between poking my eye out and cutting off a finger,” Fannie’s former chief executive officer recalls in Bethany McLean and Joe Nocera's new tome, “All the Devils Are Here.” [Bloomberg]

Related

Fannie Mae Seeks Another Government Bailout

Fannie Mae is asking for another $8.4 billion from the government to cover losses on bad mortgages after reporting a dismal first-quarter loss of $13 billion.

Outlook For Fannie, Freddie Fans Not Good

It'll be a dark day in hell before either company starts paying dividends. Apologies to the people to whom this news comes as a surprise.