The Debts of the Spenders: FBI Investigates Freddie Mac's Derivative Losses

The Federal Bureau of Investigation is looking into a 2008 report by investigative firm, Kroll which claims Freddie Mac deferred $3.7 billion of losses on derivative contracts, The Wall Street Journal reports. The mortgage giant deferred the losses, incurred from 2001 through 2004 by using “hedge accounting.”

http://www.emii.com/Articles/2191386/Derivatives/
Derivatives-Articles/FBI-Probes-Freddies-Derivs-Losses.aspx