Wednesday, May 24, 2006

Fannie Mae fined

Fannie Mae - the US government sponsored mortgage company - receives $400mil civil penalty

The U.S. Office of Federal Housing Enterprise Oversight (OFHEO) and the Securities and Exchange Commission (SEC) announced on Tuesday a 400-million- dollar civil penalty against Fannie Mae -- the government- sponsored mortgage company -- in a settlement over alleged accounting manipulation.

Posted by Converted Lurker @ 11:20 PM (2060 views)
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