Watchdog flags Fannie Mae for lavish spending on new D.C. headquarters

Fannie Mae has run up enough excessive spending on its new downtown D.C. headquarters to incur “significant financial and reputational risks,” a government watchdog warned Thursday.

The mortgage giant, currently in the middle of a move from Northwest D.C. to a new single building to be built downtown, has seen the budget for its new headquarters rise by 50 percent since the project was approved, accompanied by a few eye-catching expensive items, such as glass bridges, “town centers,” and spiral staircases.