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| _________::::____#136 - March 14, 2006________________ |
| #136 Updated: 3/13/06 9:59 p.m. 03/14/06 Lay's lawyer takes shot at Fastow Attorney for Enron founder challenges Fastow's recollection of the company's woes and how it came to hire Goldman Sachs. 03/14/06 Observers say Fastow held up well on the stand Having dealt what observers believed were multiple blows to his former bosses Ken Lay and Jeff Skilling, dishonored former Enron executive Andrew Fastow left the courthouse late Monday after four days of often brutal questioning. 03/14/06 Employees fear consequences of reporting fraud Most employees are willing to report evidence of fraud in their workplaces but fewer than one in 10 would go directly to the police. 03/13/06 Freddie Mac Delays Reports by Two Months Officials at Freddie Mac announced that the company would delay filing its 2005 financials by two months, until May. However, in a press release, the second-largest U.S. mortgage-funding company said it needed the extra time to implement a significant improvement in its method for determining the estimated fair values of its guarantee assets and guarantee obligations. 03/13/06 Compliance Spending to Reach $27.3B in 2006 Total compliance spending in 2006 will reach $27.3 billion, with $6 billion or 22 percent allocated to the Sarbanes-Oxley Act, according to AMR Research. Spending will climb even higher in 2007, with companies devoting $28 billion to compliance initiatives. 03/13/06 Fannie Mae says it has found new errors in accounting review Embattled mortgage giant Fannie Mae disclosed Monday that it had found additional errors in the reworking of its accounting ordered by federal regulators. |