At what point are former or current Fannie exec's frog-marched out of that building? Also, think about the trouble they're in TODAY. Just think how bad it'll get once the sh*t really hits the fan (with home values imploding, mortgages not paid back, Fannie holding the bag)
Fannie Mae said Thursday it's uncovered new accounting problems in the course of an ongoing review, with the mortgage giant identifying more than $10 billion in issues related to derivatives, insurance accounting and other matters.
In a filing with the Securities and Exchange Commission, the Washington-based company, which has previously said it will restate several past periods of financial results, now expects that its 2005 annual financial report won't be completed before the second half of 2006.
Fannie also said the New York Stock Exchange is reviewing the company's listing since it's been unable to file results in a timely manner. It also said the exchange has filed a proposed rule change with the SEC that would allow it to keep Fannie Mae listed.
In the filing, the company said it has identified a problem related to hedge accounting that will lead to an estimated net cumulative aftertax loss of about $8.4 billion as of Dec. 31, 2004.
November 10, 2005
Fannie notes more accounting problems
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Now! honesty is taught in the home first around the kitchen table and game playing with children. With so many children, both parents out of the home for some reason or another. Usually getting more "things". So the emotional message to youngsters is that "things" are more important than fun evenings in the home. It sure would be interesting to see the home life in a movie of all these executives who are in jail.
Of course there is always the exception of a child no matter the environment being a "Star" of honesty.
No amount of success in the business world is a substitute for failure in the home.
I recommend the story of John P. Getty, (any library has books on J.P. Getty), He was a colossal success in the oil business. You will be shocked about his personal relations with his wife and children. So. Be. It.
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