Freddie Holders Bolted at First Sign of Trouble: "Shenanigans The Street.Com, Jim Cramer's website, continues its ongoing discussion on Freddie Mac's accounting "shenanigans". The rest of the article discusses the number of institutional investors that have been dropping shares of Freddie Mac.

Most of the accounting games at Freddie stemmed from an attempt by management to limit the impact of its large derivatives portfolio on its earnings. Rather than record large gains on those derivatives transactions in a short time frame, Freddie's managers tried to spread out those revenue gains over several years. "