Lawmakers Hurl Charges At Former Fannie Mae Head

Law360, New York (June 7, 2006, 12:00 AM EDT) -- Fannie Mae’s former top executive came under fire this week, as a House of Representatives panel lambasted the tarnished official for allegedly engineering a massive, six-year accounting fraud at the government-sponsored mortgage giant.

On Tuesday, lawmakers and a federal regulator hurled accusations at ousted former executive Franklin Raines during a House panel hearing on the scandal.

Representative Richard Baker, a Republican from Louisiana and chair of the subcommittee holding the hearing, led the charge against Raines, blaming him and the rest of the management team for...
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