DCBill

Fannie Ex-Execs Settle; How Long Will Shareholders Stand For This?

If the "allegations" Raines and the others were true, or even close, don't you think the government would have prevailed?

Hundreds of companies, financial services and others, have redone their books because of mis-applying Fas 133, the core accusation against Fannie and its former officials.

From the beginning, the whole thing was a political witch hunt --hatched in the White House--and it had no legal substance ergo the weird disposition. That disturbing fact just has been exacerbated by OFHEO accepting underwater stock options as payment for "fines."

Only in Washington DC!!