Freddie Mac is clearly fed up.
After the New York Times today published a story saying that Freddie CEO Richard Syron ignored early warnings about bad mortgage loans, the McLean, Va.-based mortgage finance company has posted an angry and detailed response to the article.
“Charles Duhigg's story (‘At Freddie Mac, Chief Discarded Warning Signs’) fell far short of the standards New York Times’ readers have every right to expect from the paper," Freddie's statement said. "Given the consequence of the subject, readers deserved more than a superficial tale spun on the purported comments of a collection of anonymous former employees and unspecified ‘others’– likely including the well-worn band of ideologues and self-interested detractors who have opposed the GSE model for years. … In fact, a full review of the facts makes clear that Freddie Mac has helped to keep a bad situation in the housing market from becoming even worse."
Obviously, despite the battered shape of the housing market, there is still plenty of business still worth fighting over--and plenty of fight left in Freddie.