Fannie Mae: the implied story, Part 3: Gaming the bonus formula
[For the introduction, see Part 1.]
[For previous installments, see Part 2.]
[Quotes in green are from the OFHEO report (full document, .pdf), on which Fannie Mae declined to comment. Sentences are occasionally reformatted (bullets, boldface emphasis, inconsequential brief elisions) for clarity.]
So far we have had the overture (Part 1), and introduced CEO [...]
