Questionable Accounting at Fannie and Freddie?

Questionable Accounting at Fannie and Freddie? Play

Aug. 19 (Bloomberg) –- Fannie Mae and Freddie Mac, which have reported record profits after a taxpayer bailout, are ignoring billions of dollars in potential losses on overdue loans as they take three years to adopt a new accounting system, a government auditor said in a letter made public today. Bloomberg’s Peter Cook reports on Bloomberg Television’s "Bottom Line." (Source: Bloomberg)

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