Interest Rate Roundup

Friday, November 06, 2009

Bottomless pit at Fannie Mae gets bottomless-er

Can a bottomless pit get even more bottomless-er? Fannie Mae is certainly giving it a go! The public/private mortgage firm just lost another $18.9 billion in the third quarter. That's on TOP of $101.6 billion in losses over the past two years. Result: It was forced to ask the Treasury Department for another infusion of money -- $15 billion. That would be on top of the $44.9 billion it has already received. A billion here, a billion there and pretty soon you're talking about real money. It's great to be a U.S. taxpayer, huh?


Post a Comment

<< Home

Site Meter