Fannie, Freddie get federal grand jury subpoenas

[bijou]

NEW YORK (Reuters) - Fannie Mae and Freddie Mac, the U.S. mortgage finance giants that were taken over by the government this month, said on Monday they were subpoenaed for documents as part of a federal grand jury investigation into their accounting.

The U.S. Attorney's office for the Southern District of New York subpoenaed the two on Friday for documents related to accounting, disclosure and corporate governance dating from January 1, 2007 to the present.

The Securities and Exchange Commission is also investigating these matters and directing the companies to preserve the documents, Fannie Mae (FNM.P: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.P: Quote, Profile, Research, Stock Buzz) said.

...

http://www.reuters.com/article/businessNews/idUSTRE48S4HD20080929?feedType=RSS&feedName=businessNews&rpc=23&sp=true

Unfortunately it will be quite a while before anything comes off this and I can't see the media pursuing it too aggressively.

[Chris_]

NEW YORK (Reuters) - Fannie Mae and Freddie Mac, the U.S. mortgage finance giants that were taken over by the government this month, said on Monday they were subpoenaed for documents as part of a federal grand jury investigation into their accounting.

The U.S. Attorney's office for the Southern District of New York subpoenaed the two on Friday for documents related to accounting, disclosure and corporate governance dating from January 1, 2007 to the present.

The Securities and Exchange Commission is also investigating these matters and directing the companies to preserve the documents, Fannie Mae (FNM.P: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.P: Quote, Profile, Research, Stock Buzz) said.

...

http://www.reuters.com/article/businessNews/idUSTRE48S4HD20080929?feedType=RSS&feedName=businessNews&rpc=23&sp=true

Unfortunately it will be quite a while before anything comes off this and I can't see the media pursuing it too aggressively.

Especially when it could turn up questions the Anointed One doesn't want to answer...