Early Briefing 08.23.07

* Columnist Marc Fisher questions whether the economic development expected around the new stadium for the Nationals (who did not lose by 27 runs last night) is as sure as some people think. See column

* Former Fannie Mae chief executive Franklin D. Raines asked a judge to find the Office of Federal Housing Enterprise Oversight in contempt for defying court orders for the release of papers related to a $6.3 billion earnings overstatement.

Raines's filing intensifies a 13-month fight with OFHEO, which said Raines and other executives at District-based Fannie Mae used improper "cookie jar" reserves and deferred expenses in order to hit earnings targets and trigger bonuses. The findings led to Raines's ouster in 2004 and a $400 million federal fine against the government-chartered company.

* The Food and Drug Administration may outsource hundreds of jobs to private companies, according to agency officials.

The government's chief health regulatory agency is reviewing more than 300 positions in more than 20 cities to determine whether they could be performed cheaper and better by the private sector. A decision is expected next month, according to FDA documents. See story.

* The operator of the mid-Atlantic electricity grid recommended that its board approve a proposal by Pepco Holdings of the District for a high-voltage line to begin in Northern Virginia and go through Southern Maryland and end in New Jersey.

* The District filed a claim with the Contract Appeals Board for more than $13 million in damages related to the fire at the Georgetown public library. The city is seeking money from the Hyattsville-based contractor on improvements at the branch, Dynamic Corp., because fire investigators said a subcontractor was responsible for the fire. See story

* The College Board said it would stop stop accepting loan applications due to new rules in the student lending industry. The College Board doesn't actually use its money for those loans - instead, they come from Sallie Mae of Reston and Citibank.


By Terri Rupar  |  August 23, 2007; 5:00 AM ET  | Category:  Morning Brief
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