Securities and Exchange Commission

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SEC Guides Freddie Away from Hefty Charges 

May 06, 2009By

In a report filed by James Hagerty of the Wall Street Journal, an unnamed Securities and Exchange Commission spokesperson claims the SEC advised Freddie Mac [stock FRE][/stock] on how to avoid coughing up $30bn in charges. The fine would deal too great a blow to the earnings of the secondary market player, the WSJ reports, and so the SEC rendered a favorable accountancy ruling to prevent the fee against earnings.

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