(To read more on the debt and equity markets, click here.)
WASHINGTON, DC-Fannie Mae says it's been advised by the USAttorney's Office for the District of Columbia that it isdiscontinuing its investigation into its accounting policies andpractices and does not plan to file charges. Fannie Mae wasinitially notified in October 2004 of the US Attorney'sinvestigation of the company.
With this step it appears as though the fallout from FannieMae's accounting irregularities are coming to an end--althoughthere are some members of Congress calling for new laws to furtherreform the GSAs. Fannie Mae has reached settlements with theSecurities and Exchange Commission and the Office of FederalHousing Enterprise Oversight, which included a $400-millionfine.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
