NEWS FLASH!!!
(Reuters) - Fannie Mae, the largest U.S. residential mortgage provider, on Monday reported a net loss of $13.1 billion in the first quarter and said it tapped the Treasury for additional aid of $15.3 billion.
Its regulator, the Federal Housing Finance Agency, has asked for $8.4 billion more before June 30 from the Treasury for Fannie Mae to eliminate its net worth deficit as of March 31. With that draw, Fannie Mae will have received $84.6 billion in federal aid.
The company said it expects default rates and credit-related costs to remain heightened this year with housing still weak, saying there is "significant uncertainty as to our long-term financial sustainability."
HEY FRANKLIN...WHY DON'T YOU GIVE BACK THAT $90 MILLION IN BONUSES YOU GOT (FOR COOKING THE BOOKS) INSTEAD OF EXPECTING AMERICAN TAXPAYERS FOR THE BAILOUT???
I wish somebody in the media would ask him that question. And also ask BO to please explain this one. Or Barney Frank, Chris Dodd and Jamie Gorelick.
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Showing posts with label cooking the books. Show all posts
Showing posts with label cooking the books. Show all posts
Monday, May 10, 2010
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