Posted on 02/27/2009 3:53:19 PM PST by FromLori
Fannie Mae said Thursday that it needed $15.2 billion in government aid because it lost nearly $59 billion last year as the foreclosure crisis mushroomed.
The mortgage finance company hemorrhaged $25.2 billion, or $4.47 a share, in the fourth quarter. That compares with a loss of $3.6 billion, or $3.80, a year earlier.
(Excerpt) Read more at latimes.com ...
It’s a government agency now for all intents and purposes, so it’s too be expected. What’s interesting is that the government takeover did not stop the flood of red ink.
Don’t be wimps! Make it $1.52 Trillion. Fannie Mae needs to really go for the gusto!
Moody’s predicts default rate will exceed peaks hit in Great Depression
What, who said it would -— Oh yeah, the government
LOL...
The government specializes in red ink.
FNM is now a penny stock with a market cap of 252 million... and they want another 15 BILLION. Great. That’ll fix everything.
DRACUbama’s boyZ back to suck our blood.
I like it: DRACUbama.
May I borrow when refering to the pretender?
Bring in the bulldozers and cranes to demolish the building, and send all the employees home for good.
Fannie Mae and Freddie Mac are perhaps the most significant factors in this real estate mess. It’s a long story-it is run by crooks, and there is no explanation for why Franklin Raines is not in prison,being “water-boarded” right now.
Yep...from what I can tell, we are watching a huge protection racket in operation. Between Raines and Gorelick at Fannie Mae and Rahm Emanuel at Freddie Mac, not to mention the Greatest Grifters that ever lived, the Clintons....there are a lot of crooks that have gotten off scott free. THIS is the scum that mr Hope and Change surrounds himself with.
President Bush’s (and his Party’s) biggest failure, IMHO, was in allowing the Clinton admin off the hook for the 911 attacks (among other things). Now the left is once again trying to shift the blame from their own colossal, CRIMINAL misdeeds, onto the previous administration. Never have Conservatives needed a leader with a clear voice and a steady hand more than we do right now.
Have to have those dollars to refinance the illegal aliens’ mortgages.
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