Recent disclosures from the Federal Housing Finance Agency reveal that lawyers representing former Fannie Mae executives Franklin Raines, J. Timothy Howard and Leanne Spencer have received a total of $6.3 million for defending the trio in shareholder suits since Fannie Mae was placed into a conservatorship last year. A close look at court documents indicates that Williams & Connolly, Zuckerman Spaeder and Mayer Brown are the firms representing the three executives.
The New York Times reported last weekend that the FHFA made the legal bills public in response to a request by Democratic congressman Alan Grayson from Florida. Grayson’s office then provided those documents to The Am Law Daily. (The FHFA became Fannie Mae’s new regulator after the passage of the Housing and Economic Recovery Act of 2008.)
