By Edith Orenstein, FEI Financial Reporting Blog - On Sunday, Sept. 7, 2008 U.S. Treasury Secretary Henry M. Paulson
and Federal Housing Finance Agency (FHFA) Director James Lockhart
announced that FHFA has placed the two Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, into a conservatorship. This and three related actions aimed at stabilizing the two GSEs “are the result of detailed and thorough collaboration between FHFA, the U.S. Treasury, and the Federal Reserve,” said Paulson.
In other news, the Big 4 audit firms are among the top 5 companies for new hires, according to the cover story in this week’s issue of Business Week, “The Best Places to Launch a Career” by Lindsey Gerdes. See their list of “Fifty Employers with the Right Stuff.” Also in the current issue of Business Week is an article on IFRS by David Henry.
Read more here.