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Tuesday, November 16, 2004

Fannie Mae mistakes?

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We knew it wasn't looking good for Fannie Mae yesterday, when the company missed its deadline for filing its third quarter numbers. How bad is it? How does $9 billion in losses strike you? Today Fannie said that's the way it'll be if securities regulators insist on enforcing new accounting rules. It would be a sharp blow to the largest of the so-called government sponsored enterprises set up to keep money flowing to the nation's mortgage markets. John Dimsdale reports on what this means on the home front.

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