Fannie Mae's Ken Lays.

• Author: Peters, Charles
• Position: Tilting at Windmills - Brief Article

Who benefited from the accounting shenanigans at Fannie Mac? Consider $400 million that should have been charged as expense in 1998. Unfortunately, it would have reduced bonuses due present and former CEOs Franklin Raines and James John son, so Fannie Mae's bookkeepers moved $200 million in expenses to another...