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To: Lizzie Tudor who wrote (12989)	8/22/2003 6:55:54 PM
From: biometricgngboy	Read Replies (1) \| Respond to of 306849

Freddie Mac's CEO Steps Down Under Pressure from Federal Regulators Parseghian Ousted for Involvment in Accounting Irregularities By Kathleen Day Washington Post Staff Writer Friday, August 22, 2003; 5:39 PM Freddie Mac chief executive Gregory J. Parseghian will step down, but will remain as the acting head of the mortgage-finance company until a permanent replacement can be found, sources said. <http://media.washingtonpost.com/wp-adv/images/adTAG.gif> [Click here!] After a meeting today, the company's board buckled under pressure from federal regulators and decided to replace Parseghian, who they picked two months ago. The board has begun a search for a permenent CEO, sources said. Freddie Mac general counsel Maud Mater will also be replaced as soon as possible, sources said. Regulators at the Office of Federal Housing Enterprise Oversight and company officials agree that Mater failed in her duty to ensure the company properly disclosed accounting policies. Improper accounting and disclosure contributed to bookkeeping errors that will force the company to restate earnings by as much as $4.5 billion for the last three years. The errors led to a mangement shakeup in June, when the company's CEO, president and chief financial officer were forced out. The board's decision to name Parseghian to replace the ousted Leland Brendsel was controversial, with some investors arguing his role in the accounting and disclousure fiasco should disqualify him from leading the company. Regulators at OFHEO reached the same conclusion and told the board Wednesday that Parseghian must resign. It is unclear how much money Parseghian will receive as part of a severance package, but government and company sources say it's likely to be in the millions of dollars. Last month the compay released an investigative report commissioned by the board that detailed the role Freddie Mac's top executives, including Parseghian, played in the accounting and disclosure errors. © 2003 The Washington Post Company washingtonpost.com

To: Lizzie Tudor who wrote (12989)	8/22/2003 11:13:34 PM
From: David Jones	Respond to of 306849

.....Now that I have gone through the considerable pain and suffering of explaining to you non-Calfornians what the REAL issue is with the CA budget crisis.... Aahahaha! Ya you explained it. Let's me see here a raspberry would look like ""Pssssttt"".

To: Lizzie Tudor who wrote (12989)	8/23/2003 1:55:49 AM
From: JF Quinnelly	Respond to of 306849

We feel your pain Lizzie. And in order to assuage your suffering you need to take two aspirins and write a big check to the state treasury.

To: Lizzie Tudor who wrote (12989)	8/23/2003 4:09:55 AM
From: Steve Misic	Respond to of 306849

"Now that I have gone through the considerable pain and suffering of explaining to you non-Calfornians what the REAL issue is with the CA budget crisis (half the state pays no property tax)- I expect you to make a big deal out of this if there is a federal bailout proposal." Believe me, If the rest of us have to pay for your bailout, you will see Prop.13 repealed. It is exactly the reason you are in dire straits. That and the fact that you have open borders with Mexico and your stupid workmens compensation laws. Shall I go on? Oh, Lizzie Tudor, you are correct in everything you say about all the good jobs going overseas and this problem is not going away anytime soon. I don't care who you elect as gov. your taxes are going up, trust me.