Published: September 16, 2008
WASHINGTON (AP) — The federal government has named chairmen to oversee the mortgage finance companies Fannie Mae and Freddie Mac, which were seized this month.
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Their regulator, the Federal Housing Finance Agency, said on Tuesday it had named John A. Koskinen as Freddie Mac’s nonexecutive chairman. Mr. Koskinen, a corporate reorganization expert, spent two years directing the planning for the Year 2000 computer conversion and worked as the District of Columbia’s chief administrator.
The agency also named Philip A. Laskawy, former head of the accounting firm Ernst & Young, to the same role at Fannie Mae.
This month, Herbert M. Allison Jr. was named the chief executive of Fannie Mae, and David M. Moffett was named the chief executive of Freddie Mac as part of the government’s takeover of the companies. Fannie and Freddie own or guarantee about $5 trillion of the nation’s outstanding mortgages, roughly half the nation’s total.
In a statement, James B. Lockhart, the housing agency’s director, said both men “have the types of skills and experience needed to ensure a healthy financial future for Fannie Mae and Freddie Mac.”
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