Home
Fannie Mae fights back but loses executives
Netherlands News.Net
Wednesday 27th August, 2008
Mortgage finance giant Fannie Mae has made changes to its executive ranks, after investors appeared less certain a government bailout of the company might be imminent.
Fannie Mae, the largest buyer and backer of U.S. home mortgages, said its chief financial officer and two other top executives would leave.
Three current executives were promoted to replace them.
But Fannie Chairman Stephen B. Ashley said in a statement that board members remained committed to retaining Chief Executive Daniel Mudd.
Mudd was elevated to the top post in December 2004 when former CEO Franklin Raines and chief financial officer Timothy Howard were swept out of office in an accounting scandal.
Shares in Fannie Mae have climbed back in recent days, as analysts have cast doubt on whether any government rescue is inevitable.
 Email this story to a friend
Have your say on this story
|
 |
 |
- Smoking, alcohol linked to esophageal, stomach cancer
Washington, November 18 : Smoking and boozing can raise the risk of certain common throat and stomach cancers, according to Dutch researchers. [read story]
- Obama talks about his climate-change commitment
President-elect, Barack Obama, in unveiling a $15 billion annual investment plan to build a clean energy future, said his presidency would engage vigorously in negotiations on climate change. [read story]
- Paulson and Bernanke appear before committee
The US treasury chief and central bank chairman have given evidence to the US Congress to defend their management of the $700 billion financial rescue program. [read story]
- Further improvement in US relations with Libya
As a sign of improved US/Libyan relations, a son of Libyan leader Moammar Gadhafi has been in Washington for meetings with Bush administration officials. [read story]
- Top cleric wants return to Iraqi sovereignty
The Grand Ayatollah, Ali al-Sistani, Iraq's top Shi'ite cleric, has said any agreement on US troops in Iraq should restore the nation's full sovereignty. [read story]
|
|
 |
 |
|
|
