Fannie Mae, which has hits fingers in more U.S. mortgages that pretty much anyone else, has received a $400 million fine from regulators for actions stemming from an "unethical corporate culture" that saw the lending behemoth alter earnings to trigger monetary bonuses for upper management. More here on the fine. And thr trouble is not over for Fannie Mae execs, including cheif exec Daniel Mudd, who is currently under the hot lights. And here's a somewhat scathing editorial on the situation from the St. Petersburg Times as well as a chronology of notable dates in Fannie mae's fall from grace.

-- MDT