Tuesday, July 7, 2015

07/0615-timothy-howard-amicus - Fannie Mae FHFA Treasury #Fanniegate

https://timhoward717.files.wordpress.com/2014/06/7615-timothy-howard-amicus.pdf

Well worth the read. This was submitted to the court by Tim Howard former CFO of Fannie Mae.

Credit losses on
loans from the bubble years, as bad as they were, did not bring the company down.
It took an avalanche of non-cash accounting charges—made after Fannie was put
in conservatorship and came under the control of FHFA and Treasury—to do that