Mortgage giant Freddie Mac has begun an investigation into its own lobbying activities. The firm spent $2 million dollars to fight regulations that would have required Fannie Mae and Freddie Mac to sell hundreds of billions of dollars worth of mortgage-backed securities held in their portfolios. The same securities plunged in value when the housing market tanked. High-priced lawyers from Covington & Burling will lead the probe. (Associated Press)
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