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Federal Report Blames Fannie Mae Leadership

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Federal Report Blames Fannie Mae Leadership

Economy

Federal Report Blames Fannie Mae Leadership

Federal Report Blames Fannie Mae Leadership

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  • <iframe src="https://www.npr.org/player/embed/5426110/5426111" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

A scathing federal regulator's report blames "an arrogant and unethical culture" at Fannie Mae for manipulated earnings that led executives to reap huge bonuses. The report also says the mortgage finance giant used its lobbying clout to prod Congress to reduce oversight of the company. Fannie Mae has agreed to pay $400 million in fines to settle charges over its misleading financial statements.

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