Report on Fannie Mae

Officials released a report of a special examination of Fannie Mae and answered questions from reporters about the content of the… 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. close

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*The transcript for this program was compiled from uncorrected Closed Captioning.

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  • 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
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Report on Fannie Mae

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Program ID:
192657-1
Category:
News Conference
Format:
News Conference
Location:
Washington, District of Columbia, United States
First Aired:
May 23, 2006
Last Aired:
May 27, 2006

Airing Details

  • May 23, 2006 | 9:13pm EDT | C-SPAN 2
  • May 24, 2006 | 2:23am EDT | C-SPAN 2
  • May 24, 2006 | 6:05am EDT | C-SPAN 1
  • May 27, 2006 | 4:35pm EDT | C-SPAN 1
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