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High risk loans they held. take, for instance, one of freddie mac's annual reports. listen: >> in its annual report for 2006, we allege that freddie mac misrepresented to the public that its subprime holdings were not significant. in fact, the company had $141 billion of subprime exposure to loans it internally described as subprime or subprime-like. >> reporter: now, the sec staff used charts to demonstrate the alleged fraud with the slivers representing the tiny part of subprime loans that were disclosed, with the rest of the pie showing how much actual exposure there was, about 40-70 times ...

Around $30,000 for registration fees. total out the door, $640,000 worth of travel expenses. >> bill: for how long? >> two or three days. >> bill: so they owe us $141 billion, the folks, they owe the folks and rack up this. i don't understand why 100 had to go. couldn't ten go? >> they say they were getting all of these people in one place so they could maximize the number of meetings with customers and save money 'cause they got them all in one place at one time. >> bill: i don't know whether that's true or not. do you? >> yes, i believe it's true. that's what they said. >> bill: no, no. but ...

Around $30,000 for registration fees. total out the door, $640,000 worth of travel expenses. >> bill: for how long? >> two or three days. >> bill: so they owe us $141 billion, the folks, they owe the folks and rack up this. i don't understand why 100 had to go. couldn't ten go? >> they say they were getting all of these people in one place so they could maximize the number of meetings with customers and save money 'cause they got them all in one place at one time. >> bill: i don't know whether that's true or not. do you? >> yes, i believe it's true. that's what they said. >> bill: no, no. but ...

Around $30,000 for registration fees. total out the door, $640,000 worth of travel expenses. >> bill: for how long? >> two or three days. >> bill: so they owe us $141 billion, the folks, they owe the folks and rack up this. i don't understand why 100 had to go. couldn't ten go? >> they say they were getting all of these people in one place so they could maximize the number of meetings with customers and save money 'cause they got them all in one place at one time. >> bill: i don't know whether that's true or not. do you? >> yes, i believe it's true. that's what they said. >> bill: no, no. but ...

>> bill: in the impact segment, as you may know, fannie mae and freddie mac, owe we the people, us, $141 billion. as we reported, top executives and those concerns are set to receive $100 million in compensation in a two-year period ending december 31 this year. that's not all. about 100 fannie and fred employees traveled to chicago, a little junket. here to tell us about that, fox business anchor, stuart varney. look, am i overstating this? i mean, 100 employees go from dc to chicago. >> hyatt regency hotel. >> bill: nice dig. >> for a conference from the north banksers association, is hundre...