From Patrick Giagnocavo: http://billburnham.blogs.com/burnhamsbeat/2008/07/fannie-maes-gol.html This is a explanation of the Fannie Mae debacle that makes sense.  It is very similar to the recent posting here in this blog:  what happens when you pick a number for management bonuses and then let management work that number. The Burnham article does not dwell on the role of management … Continue reading The Fannie Mae debacle: a simple explanation