Fannie Mae asked the government Friday for an additional $8.5 billion in aid after declining home prices caused more defaults on loans guaranteed by the mortgage giant.
The company said it lost $8.7 billion in the first three months of the year. Those losses led Fannie to request more than three times the federal aid it sought in the previous quarter. The total cost of rescuing the government-controlled mortgage buyer is nearing $100 billion - the most expensive bailout of a single company.
No, that's not all.
Combined with the bailout of sibling company Freddie Mac, the government expects their rescue to cost taxpayers about $259 billion. That money will cover the mortgage giants' losses on soured loans made in the midst of the housing bubble.
8 comments:
What is happening here is tantamount to treason.
Raines, Clinton, Obama, Barney "Fag" Frank, et. al. all should be tried for conspiracy and treason, found guilty, and hung by the neck until dead.
My God! When does the madness end?!
The madness will end when you stop posting your radical tripe.
Yet another completely useless blog response by reactionary Anonymus who couldn't create a proactive interesting blog thread if his circumcision depended upon it.
Once again, ~100 IQ liberal Anonymous riding the coattails of those that actually know how to blog.
It's called information and research, tampon sniffer. Try it sometime.
Go on now...go back to burning Play*Doh in your Eazy*Bake Oven. The grown-ups don't want you around anymore.
Go on now...shooo.
BIOYA.
You give Christians a bad name. You can't even put into practice the homily from the mass on Sunday.
Pathetic.
Which homily was that one, Anony?
Wasn't referring to you, Dad29, but Saint Revolution. The homily this past Sunday? Simple. Refuse to allow posters from the advocating raping human beings.
Does ANYONE have ANY clue what AnonyMouse is squeaking about?!
Yeah, Saint Revolution, it's called slowly losing one's soul when tacitly endorsing sodomy. Apparently you condone such immoral activity. Figures, you charlatan.
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