The long awaited independent accounting report on Fannie
Mae was released late last month, and while it sort of absolves
Franklin Raines, former Chairman and CEO of the mega-mortgage company who,
along with Timothy Howard the CFO lost his job at the height of the
scandal, it comes down pretty hard on Howard. Interestingly, we did not
find one mention of the accounting firm of KPMG which was also fired from
its position of independent auditor, in the report's Executive Summary.
The report was the result of months of work by an independent commission
headed by former Senator Warren B. Rudman and ...
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