Corporate governance

Based on the information provided in Illustration Capsule 2.4, explain how corporate governance at Freddie Mac failed the enterprises shareholders and other stakeholders.
Which important obligations to shareholders were fulfilled by Fannie Mae's board of directors?
What is your assessment of how well Fannie Mae's compensation committee handled executive compensation at the government-sponsored mortgage giant?
http://www.freddiemac.com/governance/pdf/gov_guidelines.pdf