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As Big Quarterly Losses Continue, Fannie, Freddie Brace for Massive Accounting Hit to Balance Sheets
Fannie Mae and Freddie Mac are bracing for a major accounting wallop as they prepare to bring trillions of dollars of MBS exposure onto their balance sheets in 2010 at a time when the government-sponsored enterprises are still trying to dig their way out from under massive credit-related losses. “The adoption of these new accounting standards will have a major impact on the presentation of... [Includes one chart]
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