Monday, June 18, 2007

Raines Says Fannie Mae Regulator Hides Details in Accounting Investigation

(Bloomberg) -- Franklin Raines, ousted as chief
executive officer of Fannie Mae in 2004, said regulators are
withholding documents that may show a deliberate attempt to drive
down the company's stock price.

The Office of Federal Housing Enterprise Oversight
``continues to guard jealously against the disclosure of
information,'' Raines said in a filing yesterday with the U.S.
District Court in Washington. Ofheo is denying access
``presumably for fear that the integrity of its own public
statements will be called into serious question,'' the filing
said.


Read more at Bloomberg Bonds News

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