The chief accountant of the Securities and Exchange Commission found that Fannie Mae violated accounting rules and must restate its earnings for the past four years. That decision will force the giant mortgage-finance company to recognize an estimated $9 billion of losses on derivatives used to hedge interest-rate risks, probably in its next quarterly earnings report. It also is likely to lead to senior management changes at Fannie and a surrender by the company to demands by the Bush administration that it submit to tighter regulation. A Fannie spokesman said the company will comply with the SEC's decision. But the...