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Small Linked To Scandal at Fannie Mae; Smithsonian Secretary's Role Is Scrutinized
[FINAL Edition]
The Washington Post - Washington, D.C.
Subjects: Scandals; Accounting procedures; Executive compensation
Author: Kathleen Day and Jacqueline Trescott - Washington Post Staff Writers
Date: May 25, 2006
Start Page: C.01
Section: STYLE

The report details that in the two years before [Lawrence M. Small] left Fannie Mae to join the Smithsonian, he was avid in reminding executives of the need to meet earnings targets and in encouraging and suggesting ways to do it, including some methods regulators now say violated generally accepted accounting rules and misled investors. Small did not return calls seeking comment.

In the past two months a contract he championed for television productions with Showtime Networks, using Smithsonian materials and experts, has come under scrutiny from Congress and scholars because its terms haven't been made public. It limits the access of researchers to Smithsonian archives if they plan to use the information in a significant way in a commercial venture.

The Showtime contract was with Smithsonian Business Ventures, a unit created in 1998 to increase nonrestricted earnings for the Smithsonian. The Smithsonian inspector general is conducting an audit into the workings and salaries of its officers. A list given to the Appropriations Committee by the Smithsonian said that SBV Chief Executive Gary Beer received $558,075 in 2005.

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