Fannie Mae-No Politics (FNMA)

[big-yank]

PWC is possibly in a rock vs. hard place situation because it could easily find itself having an Arthur Andersen moment of demise like the Enron auditor debacle. One teensy whiff of impropriety will set off a scramble among their other clients like ImBev, Toyota, Volkswagen to take an immediate hike to a new auditing firm. And could drive FMCC to pursue an enormous legal remedy against PriceWaterhouseCoopers. These are potentially life-ending developments for the Big 4 firm.

The auditor only has responsibility for the correctness of information presented in the 10-K Annual Report. They have no responsibility for the information presented in stock certificates or sales prospectuses.

Glad you find such hilarity in such a screwed up mess. But one thing you can rest assured on... NOTHING of value will fall out of the Edwards case that will ever benefit you unless you are one of the named plaintiffs.

JMHO.