Consider the ethics recognition that Fannie Mae received and the reasons given for those awards. Then consider that Fannie Mae was rated by Standard &

Poor’s on its corporate governance scoring (CGS) system as a 9, with 10 being the maximum CGS score.

Fannie Mae received a 9.3 for its board structure and process.184 What issues do you see with regard to these outside evaluations of companies that relate to governance and ethics? Is there a difference between social responsibility and ethics? Is there a connection between good governance practices and ethics? P-6523