Ex-Fannie Mae boss: I didn’t see violations

Former Fannie Mae chief Franklin Raines holds himself accountable for accounting violations at Fannie Mae even though he did not urge or know about the infringements, according to a statement issued on his behalf Tuesday.

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“Mr. Raines has repeatedly stated that he never authorized, encouraged, or was aware of violations of Generally Accepted Accounting Principles at Fannie Mae for the purpose of smoothing earnings, reaching bonus targets, or for any other improper reason,” the statement issued by attorney Robert Barnett on Raines’s behalf said.

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The statement noted that Raines made good on an October 2004 promise to hold himself accountable for any violations and stepped down after the Securities and Exchange Commission ruled in December 2004 there had been accounting violations.

“As he has said repeatedly, he strongly believes that, as the leader of Fannie Mae, he should be accountable for what happened within the organization, regardless of personal involvement or fault,” the statement added.