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Fannie Mae, Freddie `House of Cards' Prompts Takeover

Discussion in 'General Investing Discussion' started by Tropo, 9th Sep, 2008.

  1. Tropo

    Tropo Well-Known Member

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    Fannie Mae, Freddie `House of Cards' Prompts Takeover

    ``Fannie and Freddie's accounting during the housing crisis appears to have been more fantasy than reality,'' said Rosner, who first highlighted problems in 2003, before the two companies were forced to restate about $11.3 billion in earnings.
    http://www.bloomberg.com/apps/news?pid=20601087&sid=a3pTtizqxtcA&refer=home