Fannie Mae: “False signatures”
While Federal Reserve Chairman Alan Greenspan, as expected, was forcefully testifying to limit the GSEs’ ability to grow their balance sheets by playing maturity mismatch, outgoing OFHEO director Armando Falcon was continuing his implacable enumeration of deficiencies both structural (policies) and personal (their implementation) at Fannie Mae:
As with previous accounting problems we have uncovered, they […]
