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Fannie Mae, the nation s second largest financial institution, forced out two top executives as it struggles to deal with an accounting scandal which will likely force it to wipe out $9 billion in profits over the past four years.Fannie Mae chief exe
stanley cups cutive Franklin Raines and J. Timothy Howard, the company s chief financial officer, stepped down Tuesday after lengthy negotiations between the Fannie Mae board and the company s chief government regulator, the Office of Federal Housing Enterprise Oversight.In a statement issued late Tuesday night, Raines said he had decided to leave to fulfill a pledge he made during congressional testimony in October that he would take the blame if serious accounting problems were found at the company. By my early retirement, I have held myself accountable, Raines said.A Fannie Mae statement announced that Howard had also resigned. The company said it had hired an executive s
stanley cup earch firm to find replacements for the two men. Industry and congressional sources, who spoke on condition of anonymity, said Fannie Mae s board had been pressured by OFHEO during tense negotia
stanley romania tions over the past several days to demand the resignations of both Raines and Howard. What the board was thinking in doing this was respecting the Securities and Exchange Commission s decision last week that said, basically, Fannie manipulated its earnings to make it look like the company was doing better than it actually did, report CBS MarketWatch s Rob Schroeder.OFHEO Di Ctop There s No Better Breakfast Than Scrambled Eggs at 39,024 FPS
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stanley cup eback. Second Life has been here for years鈥攅leven, this month鈥攂ut after the virtual world much-vaunted debut, the online universe slowly slipped out of the cultural consciousness, now infrequently referenced more as a punchline than legitimate popular hangout. Unless you, like I did last week, have an Oculus Rift handy. You ;d think Second Life is a ghost town by now. And yet! One million people still actively inhabit the digital universe, a number that stayed impressively consistent since its early heyday. Over the past decade, those loyal early adopters have created over
stanley thermos a petabyte of user-generated content in the form of鈥攚ell, anything and everything you could possibly dream up: replicas of real-life locations where it possible to fly, triple-X adult zones where it possible to get filthy, and detailed scenes inhabited by avatars who may or may not resemble their flesh-and-blood counterparts. Times have changed, however, and as we teeter on the verge of an Oculus Rift-led virtual reality revolution, Second Life new CEO Ebbe Altberg felt it was time to reintroduce his company to the public, complete with VR-goggle integration. The timing is auspicious; Altberg has been looking to the next thing lately, which in case means a major new platform that Linden Labs is developing. They ;re on a hiring spree now, with plans to add 40 to 50 new team members in the next few months to begin d
