MICKEY KAUS: “Politico gravy-train Fannie Mae in trouble despite its massive implicit government subsidy, because new accounting rules would apparently require it to list billions of dollars of now off-the-balance-sheet mortgage guarantees as liabilities. Of course, the agency formerly headed by Obama’s ex-veep-vetter will probably wriggle out of the new rule thanks, as always, to political pressure.”

Kaus has more info on Fannie Mae’s problems, including a link to this post.