Freddie Mac Scandal?

Home mortgage giant Freddie Mac fires its president and replaces two senior executives amid accounting review irregularities.
June 11, 2003, 7am PDT | Chris Steins | @urbaninsight
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"The Wall Street Journal reported that regulators will look at whether Freddie Mac may have deferred some income to smooth out results in future periods. The paper also said the SEC would probe whether its chief executive and chief financial officer may have violated the law by certifying financial statements, if such statements are deemed inaccurate... Separately, the mortgage financier faces an investigation by the Office of Federal Housing Enterprise Oversight, and two members of Congress called for hearings on Freddie Mac's restatement problems."

Thanks to Chris Steins

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Published on Tuesday, June 10, 2003 in Reuters
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