A suit of this kind had been expected since at least September. The Office of Housing Enterprise Oversight, in a fit of holiday cheer, filed 101 charges against Fannie Mae formers, ex-CEO, Franklin Raines, ex-CFO, Timothy Howard and ex-controller, Leanne Spencer. OHEO would like to recover as much as $215 million from these folks for their part in Fannie Mae's recent financial shenanigans (a $6 billion overstatement, for starters).

-- MDT

Labels: Fannie Mae, financial overstatement, Franklin Raines, Fraud, Leanne Spencer, Timothy Howard