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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (19330)	12/22/2004 2:09:45 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

I missed this snip from yesterday Regulator says Fannie undercapitalized for Q3 2004 (FNM) By Carolyn Pritchard SAN FRANCISCO (CBS.MW) -- The Office of Federal Housing Enterprise Oversight has classified Fannie Mae (FNM) as "significantly undercapitalized." The mortgage giant's restatement to its third-quarter results, which cut its core capital by $9 billion, puts Fannie Mae below its minimum capital requirement, OFHEO said in a statement. OFHEO has directed Fannie Mae to provide it with a capital restoration plan to bring the company's core capital into compliance with the minimum capital requirement plus a targeted surplus of 30 percent.