Thursday, May 7, 2009

Freddie Mac could be exposed for hiding accounting‏

Freddie Macs' (FRE) regulator pressed the company to withhold information related to the proposal from a federal filing, concerned that this seemingly arcane discussion of accounting practices could add billions of dollars to the government's cost of bailing out financial firms, according to sources. The Washington Post reports that the company's executives refused and that could expose them to accusations that they hid required details from regulators.

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