barry "Dandy" To The Rescue...

[chefdennis]

With apologies to "Jim Dandy"...


Yeap, barry told everyone that they were too big to fail..the poor will be the ones hurt, we have to save them...the people have heard it all from barry and his minions...so look for them to give the taxpayers money to them AGAIN...and watch them continue to lose more ....So just how is that "hope and change" workin for you all that whined all he needed was a chance!?!?

May 6, 6:05 PM EDT

Fannie Mae seeks $8.5 billion more in federal aid

By DANIEL WAGNER
AP Business Writer
News from The Associated Press

WASHINGTON (AP) -- 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.

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Fannie Mae seeks $8.5 billion from taxpayers

By Corbett B. Daly | Reuters
Fri, 6 May, 2011
Fannie Mae seeks $8.5 billion from taxpayers - Yahoo! News

WASHINGTON (Reuters) - Mortgage finance giant Fannie Mae on Friday said it would ask for an additional $8.5 billion from taxpayers as it continues to suffer losses on loans made prior to 2009.

The largest U.S. residential mortgage funds provider reported a net loss attributable to common shareholders of $8.7 billion, or $1.52 per diluted share, in the first quarter.

Including the latest request, the firm has taken about $100 billion from the U.S. government since it was seized in 2008, though it has also paid about $12.4 billion to taxpayers in interest.

Finish reading both artcles at the links above

 

[blackpup]

The first article from the AP says both Fannie Mae and Freddie Mac will cost taxpayers $ 259 billion. Amazing is it not, what politicians can do with the taxpayer's money ?

jimmy