Morgan Stanley Settles GSE Subprime Case With FHFA
February 7, 2014
Morgan Stanley & Co. this week disclosed in a filing with the Securities and Exchange Commission that it likely will pay $1.25 billion to settle charges that it sold faulty non-agency mortgage-backed securities to Fannie Mae and Freddie Mac in the years leading up to the financial crisis. The settlement, however, is not final “and there’s one more stop to it,” said one observer close to matter.
Christopher Stanley, a security engineer at SpaceX, is the first member of Elon Musk’s Department of Government Efficiency to join a GSE board.
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