New Report Details Questionable Transactions Freddie Mac Used to Get Around FAS 133
July 25, 2003
Freddie Mac’s use of several questionable securities transactions to circumvent the impact of FAS 133 is detailed in a new report released this week by the company’s board of directors. The report was produced by Baker Botts, LLP, a firm hired by Freddie’s board to investigate the events surrounding the government-sponsored enterprise’s accounting problems and ongoing earnings restatement. The investigation found that