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Keyword: congressgate

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  • Directors of Fannie Mae to Discuss Executives' Fates

    12/18/2004 2:04:12 PM PST · by tvn · 3 replies · 255+ views
    New York Times ^ | December 18, 2004 | Stephen Labaton
    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 that violated accounting rules, people close to the company said Friday. The two executives, Franklin D. Raines, the chairman and chief executive, and J. Timothy Howard, the chief financial officer, certified financial statements that the Securities and Exchange Commission on Wednesday ordered to be restated because of significant violations in accounting rules over their treatment of derivatives and prepaid loans. Fannie Mae said in November that a restatement would force it to recognize...