Rudman Report Blames Former CFO and Comptroller for Much of Fannie’s Problems, Says GSE Has Moved On
The highly anticipated investigation of Fannie Mae’s accounting and management scandal describes in extensive detail a company driven by the goal of earnings stability to distort its bookkeeping and short-circuit its internal controls. But it’s far from clear whether the so-called Rudman report released this week will provide a lot of new ammunition that Fannie’s critics can use to push for harsher government-sponsored enterprise reform legislation in Congress. …