[AdamSelene235]

Trading appears to be halted but I see no explanation on the newswires.

[trubluolyguy]

Employees at mortgage giant Fannie Mae manipulated accounting so that executives could collect millions in bonuses....

---

Nope. No such thing as greedy businesses.

[McGruff]

Fannie Mae employees falsified signatures on accounting transactions that helped the company meet the 1998 earnings targets,...

That's it. Impeach Bush!

[AdamSelene235]

Report of the Special Examination of Fannie Mae - (May 23, 2006)

[RexBeach]

Another great Clinton appointee: Franklin Raines. This guy would steal hot soup if he had rubber pockets.

My word, if the stock reopens today it should fall like a brick through air.

[Petronski]

Anyone surprised by this announcement, stand on your head.

[Psycho_Bunny]

The WSJ has been hammering this story for years. 

People need to go to jail.

[rhombus]

Now they investigate Fannie's evil sister, Sallie.

[BurbankKarl]

Anyone could have told you this was going on based on Raines actions at the top....

[redgolum]

But, but this isn't possible! They are only doing the jobs that accountants won't do! /sarcasm
(Ok, that was a stretch :)

[BulletBobCo]

I really prefer mine medium rare.

[staytrue]

someone needs to mention clinonista Jamie Gorelick.

[sourcery]

Trading appears to be halted but I see no explanation on the newswires.

The high and mighty covering their Fannie--so the John Q. Public can't cover his.

[capitalist229]

Fannie Mae is a Government Sporsored Entity and will be supported by the Fed no matter what, they are just too crucial to fail.

As with many banks and other institutions, their reserves were allowed to go to (almost) zero.

The Fed investigated this last fall, it could have already failed and been propped back up although we may never know the full story.

A Fannie Mae public failure would prompt an 1800s style financial panic, trillions of dollars of mortgage securities and derivatives up in smoke.

BUMP

[Dont Mention the War]

We all know how this will end; the worst of the worst will get maybe six months in jail, and everyone will get to keep all their illegally-gotten cash.

Perhaps 50 years in jail, and every penny given back in restitution (no matter how they've distributed it to other family members) might send a message.

[Blzbba]

Sounds like more "good capitalism" to me.

[dighton]

Trading resumed a few minutes ago, with FNM currently down about 25¢ from yesterday's close of 50.27.

[Ann Archy]

Jamie Gorelick got a HUGE BONUS for being on this board!! Will they go after Franklin and Jamie? Doubt it!

[pageonetoo]

[ex-Texan]

Please take a look at this thread. "Big Trouble is Coming to River City" . . . in spades !

http://www.freerepublic.com/focus/f-news/1636950/posts

You can also read more reports Here

[George W. Bush]

Instead of fining Fannie Mae, why don't they seize the assets of these unscrupulous executives and imprison both them and the accountants who doctored the books. Fine the outside auditors and their companies and give them some jail time too.