Securities Law Prof Blog

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

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Thursday, October 11, 2007

OFHEO Hearing Against Former Freddie Mac CEO Set to Begin

The Office of Federal Housing Enterprise Oversight (OFHEO)'s administrative hearing against Leland C. Brendsel, Freddie Mac's former CEO, is set to begin next week.  OFHEO alleges that Brandsel is responsible for the financial manipulation of Freddie Mac exposed in 2003 and seeks fines and repayment of compensation and benefits.  Brandsel denies that he is responsible.  The parties' witness list includes Warren Buffett and C.E. Andrew, currently CEO of Sallie Mae, who was audit partner at Arthur Andersen at the time.  WPost, For Brendsel, Court Wait Is Almost Over.

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