Tag Archives: fannie mae

Business/Economics, U.S.

What Economic Recovery? Fannie Mae wants another $5 Billion bailout from taxpayers

The mortgage lender Fannie Mae reported a huge 2nd quarter loss of $5.2 billion. Now they want another $5.1 billion from taxpayers.

Let me remind you that Fannie Mae asked for $8.5 billion back in May!  So far the mortgage lender has gotten about $99 billion in bailout money from the U.S. government (taxpayers).

Fannie Mae officials say the answer to the continued housing finance crisis is jobs: “We’ve got to clear the mortgage market of the excess inventory and employment needs to recover, I believe, before we’re going to see a stabilization of home prices.“-Susan McFarland, Fannie Mae Chief Financial Officer

Business/Economics, U.S.

Proof the housing market is still crashing; Fannie Mae wants another $8.5 billion bailout

The top mortgage lender in the United States, Fannie Mae, wants another $8.5 billion dollars to save its butt.  This after reporting a loss of $6.5 billion during the first three months of 2011.

Fannie Mae blames the loss on credit expenses. They also blame falling home prices.  If Fannie Mae gets the new bailout money (at taxpayer’s expense) it will make it the costliest government bailout, of a single company, in U.S. history; $99.7 billion.