~ Click here to view the full Freddie and Fannie Become Penny Stocks article.

Oh, boy. The Solari network does it again.

It turns out that David Hisey, the Chief Financial Officer of Fannie Mae appointed on August 27, 2008 after the government takeover, once worked at KPMG. And who were they? They were the auditors for HUD and FHA under Andrew Cuomo when the housing bubble got going and $59 billion plus went missing from the agency. (See our Missing Money page for more.)

So here is the latest tidbit in from a network member. Hisey was an audit partner and worked on the HUD/FHA audit account at KPMG during all the shenanigans.

Remember, just because Fannie Mae is in conservatorship does not mean that more assets can not disappear.

Thanks, Solari network member. Good catch!