2008-07-18 — marketwatch.com
Mortgage giant registers with the SEC; limited interest from investors seen...
Freddie committed to its regulator, the Office of Federal Housing Enterprise Oversight (OFHEO), to raise $5.5 billion of new core capital through one or more offerings. The sales will include new common stock and preferred securities, the company said.
...
Freddie agreed to register with the SEC in 2002. But the company was hit by an accounting scandal soon after and had to restate several years of results. Since then, Freddie has been trying to get its financial reporting back up to date.
Mish has pulled together some good comments here.
We are wondering: if Fannie and Freddie were mired in Enron-like accounting scandals for years, during which time they did not issue public reports, but were still allowed to stay listed, aren't they exposed to massive shareholder lawsuits now that their troubles have resulted in many of those shareholders losing tons of money?
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