The chief executive of the mortgage giant Freddie Mac rejected internal warnings that could have protected the company from some of the financial crises now engulfing it, according to more than two dozen current and former high-ranking executives and others.No word yet from former Freddie Mac board member Rahm Emanuel on this one.
That chief executive, Richard F. Syron, in 2004 received a memo from Freddie Mac’s chief risk officer warning him that the firm was financing questionable loans that threatened its financial health.
Tuesday, August 05, 2008
At Freddie Mac, Chief Discarded Warning Signs
The New York Times reports: