Report on Fannie Mae

May 23, 2006


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Department of Housing and Urban Development | Office of Fed. Housing Enterprise Oversight

Officials released a report of a special examination of Fannie Mae and answered questions from reporters about the content of the report. The also announced a settlement with Fannie Mae that included more than $400 million .. Read More
Officials released a report of a special examination of Fannie Mae and answered questions from reporters about the content of the report. The also announced a settlement with Fannie Mae that included more than $400 million in penalties.

The report found that former Fannie Mae CEO Franklin Raines and other executives deliberately manipulated the company’s earnings to meet targets that would trigger performance bonuses. Mr. Raines earned more than $90 million in compensation from 1998 to 2003, with more than $52 million of that salary coming from bonuses tied to meeting earnings-per-share targets.

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PEOPLE GRID LIST

  • Unidentified Speaker,
  • Brereton, Peter
  • Cox, C. Christopher
  • DeLeo, Wanda
  • Dickerson, Christopher
  • Lockhart, James B. III
  • Thomsen, Linda C.

  • Unidentified Speaker,

    52:50 of 53:17

  • Brereton, Peter

    Assistant Director Department of Housing and Urban Development->Office of Fed. Housing Enterprise Oversight

  • Cox, C. Christopher

    Chairman Securities and Exchange Commission

  • DeLeo, Wanda

    Chief Accountant Department of Housing and Urban Development->Office of Fed. Housing Enterprise Oversight

  • Dickerson, Christopher

    Chief Examiner Department of Housing and Urban Development->Office of Fed. Housing Enterprise Oversight

  • Lockhart, James B. III

    Acting Director Department of Housing and Urban Development->Office of Fed. Housing Enterprise Oversight

  • Thomsen, Linda C.

    Director Securities and Exchange Commission->Division of Enforcement