Fannie Mae needs another $10.7B in federal aid

CNN ^ | 8/6/09

[FromLori]

The new infusion means the troubled company has drawn a total of $45.9 billion of its $200 billion lifeline this year. Fannie Mae and its sister firm, Freddie Mac (FRE, Fortune 500), were taken over by the federal government last September amid the global financial meltdown.

[februus]

Great job, Washington! Wow, the losses and hits and fails Czars must really be pushing the limits of effort!

Funny thing is, my wise old Dad (gone since ‘92) told me as far back as 1984 that if Fannie Mae & Freddie Mac failed we would be seeing the next Great Depression. Having been born the son of a sharecropper in TN in 1923 he knew a thing or two. Fought in WW2 and as a newsman once was approached by JFK on his Presidential campaign - but when Kennedy held out his hand my Dad wouldn’t take it. Ah, he dearly loved Goldwater and named his tabby cat after him! I miss that old anarchist!

[musicbymuzak]

let her die, hopefully sallie mae catches what she has and dies too.

[tired1]

maybe it can be sold off to the Chinese.

[Republic]

Just say no or it will be never ending....find out if fannie passed out any bonuses to those who banrupted her in the first place and DEMAND the return of the bonuses. See if that helps.

[Cindy]

ON THE INTERNET:

http://www.freerepublic.com/tag/trillions/index
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[allmost]

As of September 1st they are raising their loan-to-value ratio to %125. Up from the current %105. They are doing this while values are plummeting. You couldn't pick a more disastrous route. They seem to be quite confident in their eternal bailout status.

[allmost]

September 1st for fannie, October 1st for freddie.

[AuntB]

Not another cent to these leaches! All we’ve done is pay off the people who got us in this mess and just keep doing it!

Fannie Mae spared no expense financing their left wing anti American favorite charities either. And I’ll bet they still are!

Like millions every year to Jackson’s Rainbow coalition, MALDEF, LaRaza, etc.

MALDEF SILVER PARTNERS: $10,000 - ­ $49,000

2003 - Fannie Mae Foundation

http://www.americanpatrol.com/MALDEF/Contributors-2002-2003.html

Contributors to The National Council of The Race

Fannie Mae Foundation

http://www.alipac.us/ftopict-101722.html

[FromLori]

Yes AuntB the usual suspects besides fannie are on that list like that Evil little man soros and how many of those loans that are bad went to the Illegal Aliens too.

American Patrol is one of my favorite sites also.

[FromLori]

lol they can have California and Minnesota too

[Vince Ferrer]

This never gets old: Fannie Mae/Freddie Mac Hearings 2004

[org.whodat]

Mever gets old: WASHINGTON--(BUSINESS WIRE)--Oct. 15, 2002 Fannie Mae Chairman and CEO, Franklin D. Raines today joined President Bush and U.S. Department of Housing and Urban Development (HUD) Secretary Mel Martinez, and other industry leaders and non-profit organizations, (snip)

The Blueprint for the American Dream that we unveiled today is the response to the `homeownership challenge' President Bush issued in June to increase minority homeownership," said HUD Secretary Mel Martinez. "Our partners, representing every segment of the affordable housing industry, are committed to working together to achieve the President's goal of adding 5.5 million new minority homeowners by the end of the decade." http://www.allbusiness.com/government/government-bodies-offices-heads/5944494-1.html

[FromLori]

Yes your right and thanks for posting it. This too is one of my favorites

http://atlasshrugs2000.typepad.com/atlas_shrugs/2008/09/how-the-democra.html

[Cindy]

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