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Fannie Mae Execs Testify on Hill

By Jack Speer
Published October 6, 2004 at 12:00 AM EDT

Top Fannie Mae executives defend the company's accounting practices in Congress. CEO Franklin Raines denied allegations the company had manipulated its books, telling lawmakers the controversy at the mortgage giant stems from different ways to interpret complex accounting rules. NPR's Jack Speer reports.

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.