The long awaited independent accounting report on Fannie Mae was released late last month, and while it sort of absolves Franklin Raines, former Chairman and CEO of the mega-mortgage company who, along with Timothy Howard the CFO lost his job at the height of the scandal, it comes down pretty hard on...
When we last looked at Fannie Mae it seemed mired in a swamp of its own making - in danger of being delisted from the New York Stock Exchange and with congress, Alan Greenspan, and its regulator, the Office of Federal Housing Enterprise Oversight (OFHEO) all threatening corrective, maybe even punitive...