Replies to post #663125 on Fannie Mae-No Politics (FNMA)

[Wise Man]

When shareholders choose a career conman as FHFA's Director candidate, something is rotten.
The former FNMA CFO, Timothy Howard, was indicted in 2006 in a criminal ring to defraud FnF and their shareholders, and he was portrayed as the mastermind, because he accumulated a lot of power without any controls.
The objective of the accounting fraud was to hit the EPS target bonus.
FNMA had to restate 4 years of earnings and pay a fine of 400 millions.
Read the S.E.C.'s press release.
Also the OPHEO's 348-page report.