Replies to post #356210 on Fannie Mae-No Politics (FNMA)

[bradford86]

this accounting fraud is not pre-conservatorship

it is the first 4 years of conservatorship, you silly goose :-)

obviously...

Well in Mark to Market you can NEVER write the asset back up unless its a sale
Of its its a trading security categorized as such
So the crazy thing is in April 2009 the FASB allowed everyone to mark to model starting 1/1/09
vs mark to market
So everyone was marking to fiction
Except the GSEs which opted out
And continued to mark to market...which at the time was zero
And its fully disclosed in their financials

cheerio