Thursday, December 23, 2004

The Fannie Mae Effect

Well, Franklin Raines is out, and that $9 billion earnings restatement is looking like a sure thing. Fannie Mae will probably be compelled to be less aggressive than it has been. Effect on mortgages? Probably nonexistent. The market appears to have taken this mess into account already, and there is plenty of capital from other sources ready to fill the gaps Fannie leaves behind.


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