GOVERNMENTAL ACCOUNTING EXTRA CREDIT H/WORK FANNIE MAE AND FREDDIE MAC 1. Fannie Mae was started in 1938 by President Franklin Roosevelt. He wanted to create a system or a new deal which would benefit people who didn’t have homes. Fannie Mae is the nickname of what is known as the federal National Mortgage Association‚ and Freddie Mac is the nickname for Federal Home Mortgage Corporation. 2. The great depression was the major reason for such a system to be put in place simply because
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Fannie Mae case. Federal regulators noted a growing string of high profile scandals at major U.S. corporations in recent years. The number of fraud cases investigated by the Securities and Exchange Commission jumped 41 percent in the last three years (112 cases in 2001 compare to 79 cases investigated in 1998)‚ resulting in tens of millions of dollars in fines to settle the charges. I have decided to take a closer look at Fannie May. This company operates in the residential mortgage finance industry
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Reaction Paper Hamer v. Sidway The case of Hamer vs. Sidway takes into account consideration in regards to written agreements and contracts. Hamer sued Mr. Sidway‚ the executor of the estate of William Story. Story was the uncle of the plaintiff. Story promised in writing in a letter to his nephew if Hamer maintained sobriety and refrained from gambling‚ he would give Hamer $5‚000 upon his nephew’s twenty-first birthday. Hamer did not receive the money on his birthday after obliging by the
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Use strategic thinking to outline a recommended alternative for Franklin Raines to use in deciding the strategic direction of Fannie Mae. It is 1998 and you are about to take over as CEO of Fannie Mae. Use the two cases on Fannie Mae in the Course Documents (Fannie Mae A and Fannie Mae B abbreviated) for background on Fannie Mae. Exactly how should Franklin Raines proceeded in terms of strategy development what subsequent implementation steps should he have adopted. The Strategic Audit process should
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LOU PAI Pai was born in Nanjing‚ China and came to the United States at the age of two. Pai obtained both his B.S. and M.S. in economicsfrom the University of Maryland‚ College Park‚ where his father was a mathematics professor. A mathematics whiz‚ he was instrumental in getting Enron into the trading business. Between May 18‚ 2001 and June 7‚ 2001‚ Pai sold 338‚897 shares of Enron stock and exercised Enron stock options that put another 572‚818 shares on the open market. At the time‚ the shares
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National Mortgage Association (FNMA) (NYSE: FNM)‚ commonly known as Fannie Mae‚ is a stockholder-owned corporation chartered by Congress in 1968 as a government sponsored enterprise (GSE)‚ but founded in 1938 during the Depression. Contrary to some beliefs‚ Fannie Mae does not make home loans directly to consumers‚ but rather functions as an intermediary in the U.S. secondary mortgage market. By purchasing and securitizing mortgages‚ Fannie Mae facilitates liquidity in the primary mortgage market by ensuring
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Like all the bright little colored boys and girls whom I knew when I was growing up in the 50’s‚ I wanted to be a doctor. More accurately‚ my mother raised me to be a doctor. In a thousand ways‚ some subtle and some not so subtle‚ my mother implanted the idea that the sole calling worthy of the name was that of the physician. I do not use that word ’’calling’’ lightly. For my mom‚ physicians -- those masters of the cabalistic mysteries of universes seen and unseen -- were not only the most richly
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9-Fannie Lou Hamer-Fannie Lou was born on October 6‚1917 in Mountgomery‚Mississippi. She played a big part in the civil rights movememnt. She was a activist‚helped african americans get the rights to vote and co founded the Mississippi Fredom Democratic party. She was a hard working child. Being the youngest of 20 kids‚at age 6 she began working in the fields. At the age of 12‚she dropped out of school to work full time to support her family. She married Perry “Pap” Hamer in 1944. In the summer of
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Unit Title: Unit sector reference: Level: Credit value: Guided learning hours: Unit expiry date: Unit accreditation number: Principles of safeguarding and protection in health and social care HSC 024 2 3 26 31/05/2015 A/601/8574 Unit purpose and aim This unit is aimed at those working in a wide range of settings. This unit introduces the important area of safeguarding individuals from abuse. It identifies different types of abuse and the signs and symptoms that might indicate abuse is occurring
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| Lou Gehrig’s: | A Debilitating Disease | | Tina Jones | 1/20/2013 | | Tina Jones Dr. Jensen A & P II 20 January‚ 2013 Lou Gehrig’s: A Debilitating Disease Lou Gehrig’s disease‚ amyotrophic lateral sclerosis (ALS)‚ is named after the New York Yankees first baseman Lou Gehrig. He died in 1941‚ two years after he was diagnosed with ALS. The disease was then named after him. ALS is a degenerative disease that is characterized by the loss of motor neurons‚ with progressive
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