Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Thursday, February 8, 2007

No Speedy Trial for Franklin Raines

Deposed CEO of Fannie Mae Franklin D. Raines' request to accelerate the administrative hearing on charges that he manipulated earnings was rejected as an "absurdity" by the administrative law judge, who also told his lawyers to include precedent that was contrary to the position they were arguing.  The trial is expected to begin at year's end.  See Washington Post, Judge Rejects Raines's Request to Accelerate Trial Date.

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