NYSE should delist Fannie Mae

Perspective: SEC action sends wrong message to shareholders

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Thanks to a recent decision by the U.S. Securities and Exchange Commission, shares of mortgage giant Fannie Mae are still traded on the New York Stock Exchange, even though the corporation has failed to comply with SEC financial reporting requirements. That’s a travesty.

Fannie Mae first disclosed problems in its accounting practices and financial statements more than two years ago and at that time assured investors that accurate financial statements would be prepared and filed with the SEC.