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Fannie Mae and Freddie Mac - by Ralph Nader

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The Sushi Bandit Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Nov-06-03 07:07 PM
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Fannie Mae and Freddie Mac - by Ralph Nader
http://www.ralphnader.com/interest/103103.html

By Ralph Nader

Fannie Mae and Freddie Mac -- the giant housing finance corporations -- have been garnering a rash of unwanted headlines as the gangs who can't add straight.

First it was Freddie Mac which had to admit it had understated its income by a mere $4.5 billion. Even in the financial stratosphere of these government-sponsored enterprises, the accounting fiasco was a shocker. Enough of a shock for the board of directors to boot Freddie's top executives out the door.
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