"...these highly leveraged institutions are setup to take massive losses; and this might explain KPMG's recent refusal to sign off on Fannie's quarterly report. Fannie now sits in violation of SEC rules with a realized, but so far unreported, $9 Billion loss on derivatives if they were accurately "marked-to-market."
David Chuhran
Full article at:
http://www.gold-eagle.com/editorials_04/chuhran112604.html
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