and tom hudson. nightly business report is made possible by: captioning sponsored by wpbt susie: good evening, everyone. one of the most sweeping fraud cases brought in the wake of the subprime mortgage collapse was filed today in washington. the securities and exchange commission charged six former fannie mae c.e.o. daniel mudd and freddie mac c.e.o. richard syron the collapse of fannie mae and freddie mac is projected to cost taxpayers $124 billion. are fighting the charges, which syron s attorney calls quote, fatally flawed. reporter: s.e.c. lawyers say, around the time the housing bubble peaked, fannie mae and freddie mac executives used misleading definitions of subprime loans to hide the truth from investors. as they were driving up their market share, fannie mae, freddie mac and the executives sought to maintain the illusion that the business involved minimal and manageable credit risk. reporter: the sec says former fannie mae c.e.o. daniel mudd and former
nightly business report is made possible by: captioning sponsored by wpbt susie: good evening, everyone. one of the most sweeping fraud cases brought in the wake of the subprime mortgage collapse was filed today in washington. the securities and exchange commission charged six former fannie mae c.e.o. daniel mudd and freddie mac c.e.o. richard syron the collapse of fannie mae and freddie mac is projected to cost taxpayers $124 billion. are fighting the charges, which syron s attorney calls quote, fatally flawed. reporter: s.e.c. lawyers say, around the time the housing bubble peaked, fannie mae and freddie mac executives used misleading definitions of subprime loans to hide the truth from investors. as they were driving up their market share, fannie mae, freddie mac and the executives sought to maintain the illusion that the business involved minimal and manageable credit risk. reporter: the sec says former fannie mae c.e.o. daniel mudd and former freddie mac c.e.
business involved minimal and manageable credit risk. susie: meanwhile, from the mall to the web, america s gearing up for a busy weekend of holiday shopping. but one thing they weren t buying: shares of zynga the much anticipated i.p.o. from company that makes the popular game farmville. well, clearly there s a bit of disappointment that we saw it come out to the market at the top of its range at $10 per share and be unable to defend that price across the day. susie: it s nightly business report for friday, december 16. this is nightly business report with susie gharib and tom hudson. nightly business report is made possible by: captioning sponsored by wpbt susie: good evening, everyone. one of the most sweeping fraud cases brought in the wake of the subprime mortgage collapse was filed today in washington. the securities and exchange commission charged six former fannie mae c.e.o. daniel mudd and freddie mac c.e.o. richard syron the collapse of fannie mae a
this is nightly business report with susie gharib and tom hudson. nightly business report is made possible by: captioning sponsored by wpbt susie: good evening, everyone. one of the most sweeping fraud cases brought in the wake of the subprime mortgage collapse was filed today in washington. the securities and exchange commission charged six former fannie mae c.e.o. daniel mudd and freddie mac c.e.o. richard syron the collapse of fannie mae and freddie mac is projected to cost taxpayers $124 billion. are fighting the charges, which syron s attorney calls quote, fatally flawed. reporter: s.e.c. lawyers say, around the time the housing bubble peaked, fannie mae and freddie mac executives used misleading definitions of subprime loans to hide the truth from investors. as they were driving up their market share, fannie mae, freddie mac and the executives sought to maintain the illusion that the business involved minimal and manageable credit risk. reporter: the sec s
report with susie gharib and tom hudson. nightly business report is made possible by: captioning sponsored by wpbt susie: good evening, everyone. one of the most sweeping fraud cases brought in the wake of the subprime mortgage collapse was filed today in washington. the securities and exchange commission charged six former fannie mae c.e.o. daniel mudd and freddie mac c.e.o. richard syron the collapse of fannie mae and freddie mac is projected to cost taxpayers $124 billion. are fighting the charges, which syron s attorney calls quote, fatally flawed. reporter: s.e.c. lawyers say, around the time the housing bubble peaked, fannie mae and freddie mac executives used misleading definitions of subprime loans to hide the truth from investors. as they were driving up their market share, fannie mae, freddie mac and the executives sought to maintain the illusion that the business involved minimal and manageable credit risk. reporter: the sec says former fannie mae c.e.