Replies to post #337204 on Fannie Mae (FNMA)

[big-yank]

It wasn't Hank Paulson that shuffled the deck on GAAP and non-GAAP accounting principles and it was not Hank Paulson that pared back all the controls on CDO's and other exotic financial instruments that led to synthetic CDOs, hedge trading and the origins of the financial crisis.

Now the GSEs are heading back into Risk Neverland with Connecticut Avenue and STACR bonds that haerken back to the lead-in period to near collapse of our economy. Derivatives were the SCOURGE of accountance for many years following the Barings Bank rogue trader trading case that sank one of the world's oldest and largest trading houses. BaringsBank was the institution that largely financed our Colonial Era wars! Didn't Fannie & Freddie learn anything from that catastrophe? Didn't you?

JMHO.