OFHEO demands Freddie sack former boss but investors love the agency’s $4bn floater

04 Sep 2003

Armando Falcon, the director of the US Office for Federal Housing Enterprise Oversight (OFHEO), demanded yesterday (Thursday) that Freddie Mac retroactively dismiss Leland Brendsel and Vaughn Clarke, its former CEO and CFO.

The move would strip the pair of $53.6m and $28.5m respectively in accumulated benefits.

Brendsel retired and Clarke ...

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