Fannie Mae Probe Details Failures
Charleston Gazette (February 24, 2006)
Author: Marcy Gordon
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WASHINGTON - Fannie Mae's former finance chief and controller share primary responsibility for the accounting failures at the mortgage company struggling to emerge from an $11 billion scandal, a company-ordered report said Thursday.
It detailed a breakdown in financial controls and found an arrogant corporate culture at the government-sponsored company that is the biggest U.S. financer of home mortgage loans.Fannie Mae Probe Details Failures
No major new accounting problems were cited in the report that followed a 17-month investigation by a team led by former Sen. Warren Rudman, R-N.H.
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