Free Republic 2nd Qtr 2024 Fundraising Target: $81,000 Receipts & Pledges to-date: $25,422
31%  
Woo hoo!! And we're now over 31%!! Thank you all very much!! God bless.

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  • Justice Dept. Opens Fannie Criminal Probe

    09/30/2004 9:29:54 AM PDT · by AdamSelene235 · 53 replies · 1,537+ views
    Reuters ^ | Thursday September 30, 9:16 am ET | Reuters
    NEW YORK (Reuters) - The Justice Department has opened an investigation of possible accounting fraud at Fannie Mae, the Wall Street Journal reported on Thursday, after a federal regulator said the mortgage giant may have manipulated its earnings targets. The Journal reported that the investigation is still in the preliminary stages. Fannie has been under fire since the Office of Federal Housing Enterprise Oversight, or Ofheo, accused the company of improper accounting that allowed senior executives to pocket multimillion-dollar bonuses. According to the newspaper, officials have said that some Fannie Mae executives may have misled regulators, which in some cases...