Commentary Topic from greenfaucet
Today's earnings report from government sponsored Fannie Mae (FNM) should cause investors to question whether the very entity charged with saving the real estate market will actually need to be rescued itself. The company's first quarter net loss was $2.2 billion-or $2.57 per share-the company's third consecutive quarterly loss. Such a track record should have caused the Office of Federal Housing Enterprise Oversight (OFHEO) to balk at expanding the duties of Fannie.
