Freddie Mac, still shaken from its accounting scandal, is not sure if it will be able to clean up its books in time to post its yearly results by the July deadline. On a side note, the nation's no. 2 mortgage finance company paid its ousted C.E.O about 5 million in salary for 2003 and 14.5 million in other compensation, and continues to pay him $375,000.00 a month for a consulting fee to this day. Makes you sick, dont it? Investors are beginning to question the competency of the company.

Meanwhile, Freddie Mac said significant revisions are necessary for its accounting systems to enact new policies the company adopted after its restatement, causing delays in reporting its 2003 data, the company said.

Analysts expressed some frustration that Freddie Mac may have to push back its 2003 earnings. "I know this is a complicated issue, but at some point you start to wonder about the competence inside the company in terms of the accounting and financial controls," said Mike Vinciquerra of Raymond James.