December is starting off with a bang for Fannie Mae . On December 6 the mortgage giant announced that it had (finally) finished a restatement of its earnings dating from 2004 back to 2001 and had filed the required Form 10Ks with the Securities and Exchange Commission (SEC). And then on December 12 it...
Fannie Mae, the second largest financial institution in the country and the backbone, along with its sister corporation Freddie Mac, of the nation's mortgage industry, learned that it would indeed have to restate its earnings statements because of accounting irregularities. Fannie's problems first surfaced...