House GSE subcommittee Chairman Richard Baker, R-La., wants to know what Fannie Mae executives did once a whistleblower told them about certain accounting irregularities at the giant mortgage company.In a letter to the Office of Federal Housings Enterprise Oversight, the congressman is demanding documents relating to whistleblower Roger Barnes and Fannie chief financial officer Tim Howard. The subcommittee chairman is holding a hearing Wednesday on OFHEO's findings that Fannie executives skirted accounting rules to smooth out earnings and possibly increase their bonuses. "Specifically, I am requesting that you provide copies of all records related to the actions of Tim Howard and Roger Barnes and any other documents which relate to the key findings of the OFHEO report on Fannie Mae," Rep. Baker says in the Oct. 1 letter to OFHEO. Mr. Howard is scheduled to testify at the hearing, but not Mr. Barnes, a former Fannie Mae accountant who worked in the comptroller's office. Mr. Barnes is submitting written testimony, according to his attorney Debra Katz. Mr. Barnes was originally scheduled to testify, but it appears that Rep. Baker wants the hearing to focus on Mr. Howard and Fannie chairman and chief executive officer Franklin Raines.
