Fannie Going For $15.3B More

[Annie]

More hope and change?


Fannie Taps Treasury for $15.3 Billion More After a 10th Loss - Bloomberg.com

Fannie Taps Treasury for $15.3 Billion More After a 10th Loss
By Dawn Kopecki


Feb. 27 (Bloomberg) -- Fannie Mae will seek $15.3 billion in U.S. aid, bringing the total owed under a government lifeline to $76.2 billion, after its 10th consecutive quarterly loss.

The mortgage-finance company posted a fourth-quarter net loss of $16.3 billion, or $2.87 a share, Washington-based Fannie Mae said in a filing yesterday with the Securities and Exchange Commission.

Fannie Mae, which owns or guarantees about 28 percent of the $11.8 trillion U.S. home-loan market, has been hobbled by a three-year housing slump that wiped 28 percent from home values nationwide and led to record foreclosures. The company, which posted $120.5 billion in losses over the previous nine quarters, and rival Freddie Mac were seized by regulators in September 2008.

“Our financial results for 2009 reflected the continued adverse impact of the weak economy and housing market, which has resulted in record mortgage delinquencies and contributed to our recording significant credit-related expenses and net losses during each quarter of the year,” Fannie Mae said in the filing.

For the full year, Fannie Mae’s loss widened to $74.4 billion from $59.8 billion in 2008....

Mustn't forget, these are the 'good guys' not those awful bankers:

Fannie, Freddie Bonuses Total About $210 Million - WSJ.com

APRIL 4, 2009
Fannie, Freddie Bonuses Total About $210 Million
BY JAMES R. HAGERTY

In a compensation program that has drawn angry protests from lawmakers, Fannie Mae and Freddie Mac expect to pay about $210 million in retention bonuses to 7,600 employees over 18 months, according to a letter from the mortgage companies' regulator.

The maximum retention bonus for any individual executive under the plan will total $1.5 million during the 18 months ending in early 2010, according to the letter to Iowa Republican Sen. Charles Grassley, which provides previously undisclosed details about the bonuses.

The regulator, James Lockhart, director of the Federal Housing Finance Agency, said in the letter that about $51 million ...

 

[Ame®icano]

$15.3B is nothing. That's just to keep them operate for awhile, so more will come.

FYI, Fannie & Freddie were not investing into DC for nothing, this is just a payoff.

Fannie Mae and Freddie Mac Invest in Lawmakers

 

[American Horse]

$15.3B is nothing. That's just to keep them operate for awhile, so more will come.

FYI, Fannie & Freddie were not investing into DC for nothing, this is just a payoff.

Fannie Mae and Freddie Mac Invest in Lawmakers

News reports call "Fannie" simply a "company," omitting the fact that it is a GSE, or Government Sponsored Enterprise, and all that government sponsorship implies. That seems to be lost in currrent reporting.

 

[RodISHI]

$15.3B is nothing. That's just to keep them operate for awhile, so more will come.

FYI, Fannie & Freddie were not investing into DC for nothing, this is just a payoff.

Fannie Mae and Freddie Mac Invest in Lawmakers

News reports call "Fannie" simply a "company," omitting the fact that it is a GSE, or Government Sponsored Enterprise, and all that government sponsorship implies. That seems to be lost in currrent reporting.

Ripe for the unethical to pick clean.

 

[Claudette]

$15.3B is nothing. That's just to keep them operate for awhile, so more will come.

FYI, Fannie & Freddie were not investing into DC for nothing, this is just a payoff.

Fannie Mae and Freddie Mac Invest in Lawmakers

News reports call "Fannie" simply a "company," omitting the fact that it is a GSE, or Government Sponsored Enterprise, and all that government sponsorship implies. That seems to be lost in currrent reporting.

Lets not forget. The pet project of Chris Dodd, Barney Frank, Cris Cox and the entire Democratic party. Oh yeah. Lets just dump some more money into that crew. Minus the 80 million one of the directors was payed or took off with. Jeeze. No wonder the country is going broke.

 

[uscitizen]

But how can this be???

I distinctly remember the experts predicting recovery in 4th quarter of 2007.

 

[Ame®icano]

Whenever there is a thread like this one, that makes Obama and his worshippers looks like crap, you can’t find one liberal to discuss about it.

Few months ago Obama declared unlimited support for both Fannie and Freddie, so news like this one are not even news anymore and those are exactly news we should fear from.

Geithner Gives Housing Industry A Huge Christmas Present: Unlimited Fannie And Freddie Bailouts

 

[chanel]

The company’s shares, which peaked at $87.81 in December 2000, closed at 99 cents yesterday in New York Stock Exchange composite trading. The Treasury owns 79.9 percent of the company’s outstanding common stock.

With an unlimited piggy bank, this will go on and on and on...

 

[Ame®icano]

The company’s shares, which peaked at $87.81 in December 2000, closed at 99 cents yesterday in New York Stock Exchange composite trading. The Treasury owns 79.9 percent of the company’s outstanding common stock.

With an unlimited piggy bank, this will go on and on and on...

But wait, there is more...

With Sallie Mae in financial troubles due to the student loan subprime lending, government expanded student loan financing to Fannie Mae. No wonder why...

 

[Yurt]

why the heck do i have to repay my student loans? seems these guys keep getting bailed out....

 

[☭proletarian☭]

The wealth they seek doesn't exist. We can print more dollars, but get your wheelbarrows ready.

Yeah, we'll be rolllin' in money! It won't be worth anything more than a pile of leaves, but we're be rollin' in it.

 

[☭proletarian☭]

Whenever there is a thread like this one, that makes Obama and his worshippers looks like crap, you can’t find one liberal to discuss about it.

Hello. I was asleep because I had to work late.


Now, what the fuck do you want?

 

[Ame®icano]

Whenever there is a thread like this one, that makes Obama and his worshippers looks like crap, you can’t find one liberal to discuss about it.

Hello. I was asleep because I had to work late.


Now, what the fuck do you want?

Unless you were sleeping from yesterday 9AM, which you haven't based on your posts over last two days, you should STFU.

Now, do you have anything to say on the topic?

 

[☭proletarian☭]

Do I have anything to say? IDK, did you try reading my post above, you fucking twit?

 

[Ame®icano]

Do I have anything to say? IDK, did you try reading my post above, you fucking twit?

Another

 

[☭proletarian☭]

That's right. I forgot- idiots like you think Mises was crazy. The Austrians just managed to foresee every American recession in recent history, including this one- and the policies the Austrian School supports got us out of trouble in 1920- but we're just a bunch of loons.


Fucking morons. How many times are you people going to keep doing the same god damned thing before you listen to us and do what worked in 1920?

 

[Ame®icano]

That's right. I forgot- idiots like you think Mises was crazy. The Austrians just managed to foresee every American recession in recent history, including this one- and the policies the Austrian School supports got us out of trouble in 1920- but we're just a bunch of loons.


Fucking morons. How many times are you people going to keep doing the same god damned thing before you listen to us and do what worked in 1920?

You blowing in wrong candle. I support the Austrian School.

Try again, wacko.

 

[☭proletarian☭]

First you attack me, then you try to claim to be an Austrian when I point out that we've been right every time.

 

[Ame®icano]

First you attack me, then you try to claim to be an Austrian when I point out that we've been right every time.

I attacked you first?

As I said...

 

[☭proletarian☭]

That's right.

Warning the world about the effects of monetary inflation is crazy