Fannie Mae Execs Appear Before Congress
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Fannie Mae&#39;s chief executive and another top official are to appear before Congress to explain an accounting lapse at the mortgage giant amid regulators&#39; allegations of earnings manipulation and management misdeeds.
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The directors of Fannie Mae, the big mortgage finance company, will meet Sunday to consider the fate of two senior executives who signed off on financial statements
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WASHINGTON Sept. 30, 2004 - Top executives of Fannie Mae are being called before Congress to explain an accounting lapse as lawmakers delve into operations of the mortgage giant that is already under investigation by federal regulators.
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Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson told Congress on Thursday they are open to letting Fannie Mae and Freddie Mac buy more troubled home loans if the companies control risk and agree to tougher oversight.
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The chairman of the Federal Reserve urged Congress to bolster regulation of the mortgage giants Fannie Mae and Freddie Mac.
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Description: Two top executives at Fannie Mae are forced out of their jobs following questions over accounting irregularities. Fannie Mae CEO Franklin Raines and Chief Financial Officer Timothy Howard stepped
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The widening U.S. housing finance  crisis prompted calls in Congress on Thursday for new scrutiny  of bond insurers and credit raters, while Senate Democrats  offered a rescue plan for troubled homeowners.
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During a packed hearing on Fannie Mae&#39;s accounting practices last week, Rep. Richard H. Baker (R-La.), a leading critic of the District-based mortgage finance company, displayed a poster
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The man who blew the whistle to U.S.  regulators about Fannie Mae's accounting practices will appear  before a congressional panel next week, a Capitol Hill aide  said on Tuesday, as the company revealed it had discussed a  possible earnings restatement with regulators.
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Two top executives ousted from Fannie Mae last week appear headed for a fight with the company over the size of their multimillion-dollar benefits and the circumstances of their departure.
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Two senior U.S. lawmakers on Tuesday raised questions about the Securities and Exchange Commission's handling of an insider trading investigation that involved hedge fund Pequot Capital and John Mack, chief executive of Wall Street giant Morgan Stanley .
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Fannie Mae&#39;s regulator has not approved the financial terms of the exits of two top executives and the men won&#39;t get that money until investigations of the company&#39;s finances are completed
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Treasury Secretary Henry Paulson will deliver remarks Tuesday morning on the economy, housing and credit markets in a scheduled speech before a gathering sponsored by the U.S. Chamber of Commerce in Washington.
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WASHINGTON - Executives from major credit rating agencies were accused yesterday by senators of being hampered by conflicts of interest that may have contributed to the worldwide mortgage market turmoil.
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The chief executive of mortgage  finance company Fannie Mae FNM.N, under fire for alleged  accounting irregularities, will appear before a congressional  panel next week, a company spokesman said on Wednesday.
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WASHINGTON Oct. 6, 2004 - Fannie Mae&#39;s chief executive and another top official on Wednesday defended the mortgage giant&#39;s accounting and told Congress that regulators&#39; allegations of earnings manipulation represent an interpretation of complex rules.
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The heads of the big three credit-rating companies and their critics will face off Tuesday in a Senate Banking Committee hearing, setting the stage for a regulatory battle over an industry that has eluded controls despite mounting concerns about conflicts of interest, aggressive business practices and a lack of competition and transparency.