Thursday, June 15, 2006

FANNIE MAE HOT SEAT STILL HOT -- "The top two executives of Fannie Mae will appear before Congress as pressure mounts on the mortgage giant from government officials seeking to rein in its growth in the wake of an $11 billion accounting scandal."

Also: "A key House member has asked federal prosecutors to investigate whether former Fannie Mae chairman and chief executive Franklin D. Raines and former chief financial officer J. Timothy Howard lied to Congress two years ago about the company's accounting practices."