Everybody in Congress knows that Fannie Mae is bankrupt. Freddy may also be hoplessly damaged by "creative accounting" methods. Fannie and Freddy are infected by high corporate perks, excessive salaries and bonuses for executives and golden parachute rewards for the officials that have moved on.
(Learn More?) Earier this year, Fannie hired over 15,000 people to beef up their accounting staff. Rumors abound that Fannie Mae is trying desperately to recreate their corporate books and shredders are working over time.
1 posted on
10/14/2005 7:08:13 AM PDT by
ex-Texan
To: ex-Texan
Weren't most of the Fannie problems Clinton's doing one way or another?
2 posted on
10/14/2005 7:09:51 AM PDT by
RockinRight
(I am beginning to think conservatism is buried somewhere under New Orleans' mud...)
To: ex-Texan
Sounds like cheap HUD homes to come!
3 posted on
10/14/2005 7:11:03 AM PDT by
x5452
To: ex-Texan
It wouldn't hit me or the 20K or so other people in NOVA waiting for the housing prices to drop very hard at all. Nor would it adversely effect the hundreds of private mortgage lenders that Fannie Mae's fat behind has crowded out of the market.
4 posted on
10/14/2005 7:15:57 AM PDT by
.cnI redruM
(Because change is not something you talk into existence.)
To: ex-Texan
Fannie Mae has been a wierd ponzi scheme for years. Let it crash!
To: ex-Texan
Can everyone's memory recall now----S & L Crisis? Yeh, I know, my age is showing.....
11 posted on
10/14/2005 8:45:07 AM PDT by
litehaus
To: ex-Texan
When the last new bank building is built and the last new church gets built, the economy is going down the tank. Let me know when this happens.
16 posted on
10/14/2005 9:18:49 AM PDT by
PeterPrinciple
(Seeking the truth here folks.)
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