TITLE

Report: Fannie Departed From GAAP,'Improperly Stressed' Profit Growth

AUTHOR(S)
Vadum, Matthew
PUB. DATE
February 2006
SOURCE
Bond Buyer;2/24/2006, Vol. 355 Issue 32326, p5
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the Federal National Mortgage Association's accounting practices and overemphasis on stock earnings contributed to the secondary mortgage accounting problems according to a report published by former senator Warren Rudman. The organization revealed that it has overstated earnings from previous years by 10.8 billion dollars.
ACCESSION #
20281649

 

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