SEC charges ex-Fannie, Freddie CEOs with fraud

The Fannie Mae headquarters is seen in Washington, Monday, Aug. 8, 2011. Standard & Poor's Ratings Services on Monday downgraded the credit ratings of mortgage lenders Fannie Mae and Freddie Mac and other agencies linked to long-term U.S. debt. (AP Photo/Manuel Balce Ceneta)

December 16, 2011 8:48:16 AM PST
The Securities and Exchange Commission has brought civil fraud charges against six former top executives at Fannie Mae and Freddie Mac, saying they misled the government and taxpayers about risky subprime mortgages the mortgage giants held during the housing bust.