The Office of Federal Housing Enterprise Oversight says top officers at Fannie Mae created a false image of always meeting earnings targets. This let them receive millions of dollars in extra pay.----from an economics report named “Fannie Mae Agrees to Big Fine to Settle Accounting Case”.
please explain the phrase for me.
Hi floratang
A company’s earnings is basically the same as profit (i.e., total revenues minus overhead, cost of sales, taxes). Companies always set goals/targets for this.
Basically your sentence means, Fannie Mae always gave the false or misleading information that they had achieved their profit goals.
Does that help?
Amy