[Captiva]

Whoa 235. I wouldn't say he completely hosed FNM's books. He played hard and fast with accounting rules (that can be interpreted 7 different ways by 7 different auditors) to smooth earnings & fatten his bonus.

As of now there isn't any outright fraud or two sets of books. I said as of now.

If Fannie went away tomorrow the entire US financial system would not be jeopardized. Many stockholders and a few debt holders would be highly upset, but as long as people make their mortgage payments the financial system will survive.

[AdamSelene235]

If Fannie went away tomorrow the entire US financial system would not be jeopardized. Many stockholders and a few debt holders would be highly upset, but as long as people make their mortgage payments the financial system will survive.

Wrong.