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Fannie Mae has reported First Quarter 2010 Earnings Results. The government-sponsored enterprise, lost $11.5 billion in the first quarter compared with a net loss of $15.2 billion in the fourth quarter of 2009. Fannie Mae said that its first-quarter results were driven primarily by credit-related expenses, which are total provisions for credit losses and foreclosed property expenses. Credit related losses for the quarter were $11.88 billion compared to $11.92 billion in the fourth quarter of 2009. ...

We need regulation, but we need it to be implemented with careful consideration from the people who operate in the real life environment. We need open forum discussion from the Congress...without political pandering across party lines. Transparency and communication in an acceptable timeline. Proper testing. Reform needs to be done right, the first time. ...

Fannie Mae took what will be a very unpopular route on its journey to solvency on Tuesday, slashing the dividend on its common stock by 50%....