Fannie Mae asks for $2.5B in new US aid

[Sandra]

Fannie Mae asks for $2.5B in new US aid
Source:
AP
URL Source: http://www.google.com/hostednews/ap ... EjRIP70w?docId=db31724c7ca64ca
Published: Nov 5, 2010
Author: staff

Government-controlled mortgage buyer Fannie Mae is asking for $2.5 billion in additional federal aid after
posting a narrower loss in the third quarter.

Fannie Mae said Friday it lost $3.46 billion, or 61 cents a share, in the July-September
quarter. That takes into account $2.1 billion in dividend payments to
the Treasury Department. It compares with a loss of $19.8 billion, or
$3.47 a share, in the third quarter of 2009.

The government rescued Washington-based Fannie Mae and sibling company Freddie Mac
about two years ago and it estimates that will cost taxpayers up to $259
billion. That's nearly twice the $133.4 billion Fannie and Freddie are
in line to receive from taxpayers so far and would make it the most
expensive bailout of the financial crisis.

[Sandra]

We can hope that the light being shined on these corrupt states will wake it's voters up so that they also toss the trash.

[Sandra]

It is bad enough this crappy government branch caused the bubble, they continue to come back to the troth for more handouts. Thank Barny Frank! This could be a great test for the NEW GOP control?