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Article: Freddie Mac fires president
- Article from:
- Deseret News (Salt Lake City)
- Article date:
- June 10, 2003
- Author:
CopyrightCopyright 2003 Deseret News (Salt Lake City). Provided by ProQuest LLC. (Hide copyright information)
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WASHINGTON -- Mortgage-market giant Freddie Mac announced abruptly
Monday that it had fired its president because he didn't fully
cooperate with an internal review of the company's accounting, now
being investigated by federal regulators. The move unnerved Wall
Street and raised alarm among lawmakers.
In a surprise shake-up, the government-sponsored company whose
stock is widely traded said it had fired the president and chief
operating officer, David Glenn, and that chairman and chief executive
Leland Brendsel had resigned. Vaughn Clarke, the company's executive
vice president and chief financial officer, also resigned.
Freddie Mac said it had dismissed Glenn "because of serious
questions ...