Friday, November 16, 2007

Fannie Mae accounting woes

I saw a story on Yahoo about Fannie Mae being under fire for their accounting practices. What is it with these companies? Do they really think that people will not notice things like this? It makes me think of the Enron people. They must have really thought they were the smartest people around and that they would never get caught. Looks like they were wrong.

And this is not the first accounting scandal for Fannie Mae! Their most recent one was 3 years ago. Not wasting any time, are they?

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