Fannie Accounting Probes Find Problems：

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WASHINGTON (AP) - Investigators combing through Fannie Mae's finances have found new and pervasive accounting violations on top of what's already been disclosed, Dow Jones Newswires reported, citing unnamed people close to the probe.
The investigation showed executives embellished the company's earnings over the years by overvaluing its assets, underreporting credit losses and misusing tax credits, the sources said.
Several of these people examining Fannie's books also said evidence indicates the company purchased so-called finite insurance policies to hide earnings losses after they were incurred.
Securities regulators, including New York State Attorney General Eliot Spitzer, are cracking down on corporations they say bolstered earnings by using abusive financial reinsurance policies that are more akin to loans where little or no risk is transferred to the insurer.

不正の三点セットだ♪

overvaluing its assets
underreporting credit losses
misusing tax credits

それだけでなく、Ｒｅ−ｉｓｕｒａｎｃｅの悪用もしているなんて。

なんとなく、アメリカの不動産バブルがはじまるきっかけになりそうな予感がする。