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» Fannie’s Net Income Takes Big Hit from Derivatives in 2Q03, Although ‘Core’ Earnings Remain Strong
Fannie’s Net Income Takes Big Hit from Derivatives in 2Q03, Although ‘Core’ Earnings Remain Strong
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Fannie Mae’s net income tumbled a hefty 43 percent between the first and second quarters of this year as the government-sponsored enterprise was forced to recognize a huge $1.88 billion paper loss on its large derivative holdings.