Fannie Going For $15.3B More

[Ame®icano]

That's right.

Warning the world about the effects of monetary inflation is crazy

Check post #12.

 

[Darkwind]

I wonder how far charges against Fannie and Freddie will go? They are deliberately defrauding the American people.

 

[Dr.House]

What's the problem?

Can't we just print more money?

That's what I do when I run out...

 

[PatekPhilippe]

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 ...

Barney Frank: "Fannie Mae and Freddie Mac are on sound financial ground. There's nothing to worry about."