Fannie Mae Beats Wal-Mart and GE With Record Profit in 2012
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Fannie Mae, the mortgage financier seized by U.S. regulators during the credit crisis, reported the largest annual profit in company history as a housing rebound helped wean the firm from federal aid.
The government-sponsored enterprise had net income of $17.2 billion for 2012, outpacing profits at S&P 500 companies such as Wal-Mart Stores Inc., General Electric Co. and Berkshire Hathaway Inc., according to data compiled by Bloomberg.