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Programmer jailed three years over plot to wipe out all of Fannie Mae’s financial data

A computer programmer who almost succeeded in wiping out all of the Federal National Mortgage Association’s financial data at the height of the housing market crash was sentenced to three years in prison earlier this month. Rajendrasinh Babubhai Makwana, 36, worked as a contractor with the home mortgage lender, better…

‘Backdoor bailout’ of Fannie, Freddie could cost $259 billion: report

Kucinich among lawmakers worried that Fannie, Freddie assistance creates ‘unlimited’ bank bailout The cost to taxpayers of bailing out mortgage companies Fannie Mae and Freddie Mac could more than double over the next three years, making it the most expensive of all the recent bailouts. That comes as no surprise…

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