Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (25252)	1/10/2003 9:59:21 AM
From: Claude Cormier	Respond to of 36161

I am not sure if this is a good group to target. Farmers and grains commodities have been in trouble for years. I fell grains are in an uptrend and the dark days are over for them people. If so, DE will not face the same problems as other lenders.

To: russwinter who wrote (25252)	1/10/2003 7:43:46 PM
From: t4texas	Read Replies (1) \| Respond to of 36161

fnm double think that does not pass the commonsense test anyone reading this "for meaning" (as an old school teacher of mine used to say) has to reexamine whether one plus one still equals two in fannie mae speak. this means that fannie mae objects to a new sec proposed rule. reporting pro forma in any other way than what fannie mae wants pro forma to mean (shades of humpty dumpty here) is what fnm is objecting to! the new proposed sec accounting rule (from the link) is that a company can report pro forma numbers, BUT must state how their pro forma differs from gaap accounting rules. (this sounds like real clarity to me for any investor or speculator to me.). fnm objects to this! biz.yahoo.com "Fannie Mae expressed concern about a rule prohibiting companies from reporting financial results on a "pro-forma" basis without explaining how they differ from the standard U.S. accounting rule book." "Fannie Mae, in a Dec. 17 comment letter to the SEC, said restricting a company's ability to show what it thinks is the most accurate reflection of its finances will make it harder, not easier, for investors to asses the firm's profitability." "'Prohibiting a company from disclosing certain key financial performance measures on which it relies to manage the business and assess the quality of its earnings does not facilitate full disclosure. We believe this restriction will diminish rather than enhance transparency, and in some cases may mislead investors,' Fannie Mae vice presidents Jonathan Boyles and Scott Lesmes wrote. The company was due to post the letter to its Web site on Friday." "The issue affects Fannie Mae directly because unrealized losses from derivatives required the company, which buys mortgages from lenders and repackages them as securities for investors or holds them in its own portfolio, to report a 19 percent drop in earnings in the third quarter."