The Fortune 500 ranking of America’s largest corporations came out today. Exxon Mobil took the top spot away from Wal-Mart Stores.
Something interesting we noticed was that Fannie Mae pulled in the number eight spot.
You see, the rankings are done by revenue. But in terms of profit, Fannie lost more than $16 billion last year despite bringing in over $137 billion in revenue.
The loans that have pulled the mortgage giant down since the start of the housing crisis have continued to hurt the company. As Fortune states, the government-controlled Fannie Mae has borrowed $116 billion from the government.
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