Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Fannie Mae's CEO, CFO Step Down

Fannie Mae's Franklin Raines retires as CEO, and Timothy Howard resigns as CFO of the mortgage giant. This comes a few weeks after the Securities and Exchange Commission told Fannie Mae to restate its earnings, which could force the company to record a loss of as much as $9 billion. Hear NPR's Jack Speer.

Copyright 2004 NPR

Jack Speer
Jack Speer is a newscaster at NPR in Washington, DC. In this role he reports, writes, edits, and produces live hourly updates which air during NPR programming.