Thread: Fannie needs another bailout, Freddie will need one

Does this surprise anyone, Obama continues to spread the wealth by using tax dollars to continue to make loans with no interest and no payback.



Fannie Mae needs another bailout; Freddie Mac will need one



Fannie Mae, the federally controlled mortgage finance giant, said Thursday it lost $19 billion in the third quarter and had submitted a request to the Treasury Department for $15 billion in more aid to stay afloat.



District-based Fannie Mae and its McLean sibling, Freddie Mac, were seized in early September 2008 by the federal government. Since then, Fannie Mae has lost $111 billion. The $15 billion in aid it has requested comes on top of $45 billion it already received. Freddie Mac has received $51 billion in aid.



In total, the seizure of Fannie Mae and Freddie Mac has cost taxpayers $121 billion, among the costliest of the government's interventions to stabilize the financial markets.



Fannie Mae said its losses and its need for additional government aid are both likely to continue. And it said activities it was undertaking at the behest of the Treasury Department, such as modifying mortgages to help homeowners avoid foreclosure, were magnifying its losses. ...



In its earnings statement, Fannie Mae said its assistance to struggling homeowners "could adversely affect our economic returns, possibly significantly."



http://bubblemeter.b...er-bailout.html

It's all Bush's fault.

[quote name='nonsqtr' date='10 November 2009 - 01:23 PM' timestamp='1257888219' post='56659']

It's all Bush's fault.

[/quote]



Yes it is, who else could it be?

[quote name='Forplay' date='10 November 2009 - 04:37 PM' timestamp='1257889054' post='56671']

Yes it is, who else could it be?

[/quote]



Mmm.... Cheney, maybe?

[quote name='nonsqtr' date='10 November 2009 - 01:42 PM' timestamp='1257889351' post='56674']

Mmm.... Cheney, maybe?

[/quote]



Your right it has to be Cheney, but then again it could be Bush or it could be Bush and Cheney. That would cover all bases.

[quote name='Forplay' date='10 November 2009 - 04:47 PM' timestamp='1257889678' post='56682']

Your right it has to be Cheney, but then again it could be Bush or it could be Bush and Cheney. That would cover all bases.

[/quote]



Well, Ben Bernanke's hiding in there somewhere, but you're right, Bush & Cheney would cover most of it!

[quote name='anonnymous' date='10 November 2009 - 02:09 PM' timestamp='1257890967' post='56699']

I just do not see the humor in pissing away billions of hard earned taxpayer dollars.

[/quote]



Pissing away billions of hard earned taxpayer dollars is sick, and it's so sick that a little sick humor takes us away for a second on how sick this situation really is. To think Obama continues to fund Fannie and Freddie to back loans for people that cannot afford a house in the first place, is sick.

[quote name='Forplay' date='10 November 2009 - 05:34 PM' timestamp='1257892459' post='56719']

Pissing away billions of hard earned taxpayer dollars is sick, and it's so sick that a little sick humor takes us away for a second on how sick this situation really is. To think Obama continues to fund Fannie and Freddie to back loans for people that cannot afford a house in the first place, is sick.

[/quote]



Mmm.... I suppose you'd rather see everyone living in tent cities?