Wednesday, November 11, 2009

Fannie and Freddie Fire Their Own Inspector General

Fannie and Freddie Fire Their Own Inspector General: "There is no independent auditor overseeing the federal agency responsible for some $6 trillion in home mortgages, because the Department of Justice's Office of Legal Counsel ruled that the agency's inspector general didn't have authority to operate, according to internal memos obtained by the Huffington Post.

The ruling came in response to a request from the Federal Housing Finance Agency itself -- which means that a federal agency essentially succeeded in getting rid of its own inspector general."

No need to overreact to this news. After all, it's only $6 trillion dollars.

No comments: