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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (12242)	9/24/2004 4:25:50 PM
From: ThirdEye	of 116555

Regulators Targeting Fannie Mae Managers Friday September 24, 1:40 pm ET By Marcy Gordon, AP Business Writer Regulators Raise Possibility of Removing Fannie Mae Management Over Accounting Problems biz.yahoo.com Fannie Mae disclosed Thursday that it had revised its employment contracts with the three top executives -- Chairman and Chief Executive Franklin Raines, Chief Operating Officer Daniel Mudd and Chief Financial Officer Timothy Howard -- to ensure that if they were fired, they wouldn't get huge severance packages. The changes were made in response to previous comments by OFHEO, the Washington-based company said. snip Also Thursday, a class-action lawsuit was filed on behalf of Fannie Mae shareholders in federal court in Washington naming Raines, Howard and Controller Leanne Spencer. FNM closed down another 2.5% today.

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