Comments on: DoomWatch: Fannie Files 2005 10-K – CFO Hand-off Sounds Good

By: John M.

John M. — Thu, 03 May 2007 23:34:03 +0000

twist -

There was a clear warning about ’06 being weaker in the conference call, and heaven knows what ’07 will be like. Wall Street hears what it wants to hear these days.

By: twist

twist — Thu, 03 May 2007 22:35:47 +0000

John-

FNM was up $1.28 today. I guess investors like what they are hearing.

I wonder why 2005 profits are cause for rejoicing though. The HBs had pretty decent profits back then as well. I’m guessing Fannie’s current profits are a lot less rosy.

By: John M.

John M. — Thu, 03 May 2007 17:43:31 +0000

[15]: "Fannie Mae 2005 earnings rise 26%", NewRatings, May 3, 2007. [16]: "Fannie Mae Announces CFO Transition", WebWire - source: Fannie Mae, May 3, 2007.

By: John M.

John M. — Thu, 03 May 2007 17:34:44 +0000

[14]: "Ahead of the Bell: Fannie Mae", AP / Forbes, May 3, 2007.

Some analysts said Thursday they think Fannie Mae's bigger dividend, new chief financial officer and filing of overdue financial reports signal the mortgage financier will soon wrap up an overhaul of its books.

By: John M.

John M. — Thu, 03 May 2007 14:33:57 +0000

Oops!! [12] refers to CountryWide and Wells Fargo, not F&F (hat tip Ben’s Arwen U. for noting the obvious). I’ll need to make a correction.

By: John M.

John M. — Thu, 03 May 2007 13:59:18 +0000

[13]: "Fannie Mae Clears Another Hurdle: With its 2005 10-K and 2002-2004 restatements done, CFO Robert Blakely gives way to former AOL finance chief Steven M. Swad", by Roy Harris, CFO.com, May 2, 2007.