Fannie Mae's CEO, CFO Step Down
Fannie Mae's Franklin Raines retires as CEO, and Timothy Howard resigns as CFO of the mortgage giant. This comes a few weeks after the Securities and Exchange Commission told Fannie Mae to restate its earnings, which could force the company to record a loss of as much as $9 billion. Hear NPR's Jack Speer.
Fannie Mae's Raines (above), along with CFO Timothy Howard, was embroiled in an accounting scandal. Fannie Mae hide caption