The SEC announced today that it had filed securities fraud charges against former Fannie Mae and Freddie Mac executives for misleading statements made during the run-up to the housing securities market collapse. http://sec.gov/news/press/2011…
Richard Syron who had held several senior posts in Boston area enterprises was Freddie Mac’s CEO during this time period and was amongst those against whom charges were filed.
The time frame of these charges comes towards the very end of Newt’s consulting relationship with Freddie Mac. Given his noteriety and the amount of his fees, it is almost certain that Newt and Syron met and discussed how to best position Freddie for future success.
Will these charges and their potential tie-in, albeit tangental, to Newt cause him additional issues beyond those that he has already felt from his lucrative relationship with Freddie? Or will these charges just return the relationship back to the front pages of the paper?
With the Iowa caucuses and New Hampshire primary within a month, does this seriously damage Newt’s chances or is this yesterday’s news about which no one will care?