And just when things were starting to look up for Fannie Mae ! The month started out great. The giant mortgage corporation finally filed much overdue Form 10Ks with the Securities and Exchange Commission (SEC) restating earnings from 2001 through mid 2004 and erasing a huge cloud hanging over the corporation...
Remember Franklin Raines? In December 2004 he and Timothy Howard were very much in the news as they "retired" or "resigned" or were fired, depending on which version one was reading as CEO and CFO of Fannie Mae . Their sudden unemployment followed probes, lawsuits, and audits that revealed that Fannie...
Things are just not getting any better for Fannie Mae . The largest mortgage conduit in the world has been struggling for nearly a year to put right a multitude of problems arising from some fast accounting footwork dating back to 2001. The outcome of these maybe intentional, maybe not errors has been...