Jul 29, 2008

Franklin D. Raines on why Fannie Mae is no Enron (2002)

There are many lessons to be learned from the Enron debacle. One is the importance of careful fundamental analysis of major companies. Fannie Mae welcomes and, indeed, we seek out, that type of analysis.

Another lesson from Enron is that corporate behavior is fundamentally a product of the culture of the company. At Fannie Mae we take pride in the tone we set at the top, in our risk management focus, in our commitment to integrity and intellectual honesty and in the values of our people.

~ Franklin D. Raines, CEO, Fannie Mae, "Don't Tar Us With an Enron Brush," The Wall Street Journal, February 25, 2002

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