Win Or Lose, Fannie Mae's New CEO IsNamed Mudd
WASHINGTON - (06/02/05) -- Secondary mortgage market giantFannie Mae, fending off a multi-billion dollar accounting scandal,announced Wednesday it's interim president Daniel Mudd was namedpermanent president and CEO. Mudd, a top executive at Fannie Maefor the past five years, was appointed interim chief in Decemberwhen long-time CEO Franklin Raines was fired for his role in theaccounting scandal, under which the company was found to havemisstated profits by as much as $5 billion. Prior to taking over asCEO, Mudd was the company's chief operating officer. He is the sonof nationally known broadcaster Roger Mudd.