this a few moments ago:
Senior executives at Fannie Mae manipulated accounting to collect millions in “maximum, undeserved bonuses” and deceive investors, a federal report charged Tuesday. The government-sponsored mortgage company was fined $400 million. (emphasis mine)
[sarcasm]Whu? A company so heavily supported by the government that it’s considered a defacto arm of it, cooking the books? Shocking![/sarcasm]
The rest of the article might as well not exist. Once you know it’s government-sponsored, you know enough…
tags: US+politics, Fannie+Mae, mortgage, accounting, fraud]]>
