Good news! Your (okay, our) government isn't going to lose as much money on Fannie Mae this quarter as it usually does in most quarters. That's great! This postpones the U.S. government's eventual bond default by a few nanoseconds.
Bad news. :-( This is the same government that can't account for another government's oil money. Iraq's oil revenue must have disappeared into thin air. Oops! Sorry about that, Iraqi kids. You'll have to go without electricity in your elementary schools for a few more years. Better luck next time.
Let's implement the obvious solution. Fannie Mae's accountants should have been running the Iraq oil trust accounts from the get-go. Deploy them immediately to recover the dough from wherever it went.
Full disclosure: No position in FNM.
Bad news. :-( This is the same government that can't account for another government's oil money. Iraq's oil revenue must have disappeared into thin air. Oops! Sorry about that, Iraqi kids. You'll have to go without electricity in your elementary schools for a few more years. Better luck next time.
Let's implement the obvious solution. Fannie Mae's accountants should have been running the Iraq oil trust accounts from the get-go. Deploy them immediately to recover the dough from wherever it went.
Full disclosure: No position in FNM.
