Fannie Mae Scandal Grows and Networks Do Nothing
Network news is still missing a financial scandal that is exponentially larger than Enron. Fannie Mae’s $10.8 billion accounting debacle that has helped slice $30 billion in value from the company grew worse on September 29 when The Wall Street Journal reported investigators had “found new accounting violations, including evidence that the company may have overvalued assets, underreported credit losses and misused tax credits…” Despite this, ABC, CBS and NBC still talked about past events at Enron more than current events at Fannie Mae.