Enron was an Ethical Angel compared to our Government
Fannie Mae reports third quarter loss of $18.9 billion and requests another $15 billion in taxpayer funds.
Another government enterprise comes back to the well for more, with no end in sight. Bloomberg has a summary of the results here. FNM
was the organization that couldn’t do accounting properly several years
back. Based on inaccurate numbers, they paid government-hired cronies
huge bonuses. There is little doubt in my mind that this accounting is
also wrong, but for different purposes. The government cannot release
the real numbers. I believe they would be terrifying. As Joe Weisenthal
states: “Just to be clear, Fannie Mae (FNM) is still a total sinkhole.”
Unfortunately this coverup, along with other policies, will result in
much larger taxpayer losses.
One of the other policies was announced yesterday. Fannie intends
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