Fannie's End of Year Warning
How much did anyone really pay attention to this?
On December 22, 2004 Fannie Mae announced that its previously issued financial statements should not be relied upon in light of the SEC's determination that the financial statements were prepared applying accounting practices that did not comply with generally accepted accounting principles, or GAAP.
As a result, investors and others should no longer rely on Fannie Mae's previously issued annual and quarterly financial statements and the corresponding information for those periods.
Answer: 33% the amount the stock has dropped.
On December 22, 2004 Fannie Mae announced that its previously issued financial statements should not be relied upon in light of the SEC's determination that the financial statements were prepared applying accounting practices that did not comply with generally accepted accounting principles, or GAAP.
As a result, investors and others should no longer rely on Fannie Mae's previously issued annual and quarterly financial statements and the corresponding information for those periods.
Answer: 33% the amount the stock has dropped.
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