Fannie Mae-No Politics (FNMA)

[Wise Man]

TIMOTHY HOWARD, EX-FNMA CFO,WAS INDICTED IN 2006 BY THE S.E.C. & THE OFHEO, predecessor of the FHFA.
Fannie Mae had the restate the earnings reports for the previous 4 years and resulted in a reduction of $11 billion Net Income. Fannie Mae had to pay a fine of $400 mll.
Howard was accused of setting up a scheme of illusion. Through accounting fraud, fannie mae always match the EPS target bonus.
Lack of controls, unprofessional staff, etc.
Fannie Mae was barred from engaging with Howard in the future.
You can't ignore that fact and accuse me of smearing him. The facts are clear. Like the fact that he now forms part of Fairholme's legal team.
You can read the OFHEO report here.
And the S.E.C. press release here.
And about The Secret Plan, it's the only one that upholds the law.