Fannie Mae posts $2.1B loss for Q4 (ask for more aid!)

Yahoo/AP ^ | 2/24/11

[EBH]

WASHINGTON (AP) -- Mortgage buyer Fannie Mae has posted a loss of $2.1 billion for the October-December quarter of last year, and is asking for an additional $2.6 billion in federal aid.

The new request is slightly more than the $2.5 billion it sought in the July-September quarter. The government-controlled mortgage buyer also reported a $21.7 billion loss for all of 2010.

AND YOU CAN'T MISS THIS TOO

Freddie Mac posts $1.7B loss for Q4

asks for additional $500 million in aid

[EBH]

I thought there was a phase out of these two going to start...I say shut them down.

[FromLori]

What shut them down then how will the banks that donated so heavily to obama be able to continue off loading their toxic loans unto the taxpayers?

Unlimited credit for GSEs seen as backdoor bailout

[RC2]

They’re just trying to get more money for their cronies before everything falls apart.

[LachlanMinnesota]

Didn’t Barney Frank say a long time ago that there was no way that this would happen?

[FromLori]

Obama's Budget Has One Small, Missing Piece.... For $6.3 Trillion Dollars

[aces]

Yep, heck no, no more money..

[sappy]

Bawney Fwank said it was financially sound. I heard him.

[WOBBLY BOB]

Barney Frank 2003: Fannie and Freddie are not facing any kind of financial crisis

‘’These two entities — Fannie Mae and Freddie Mac — are not facing any kind of financial crisis,’’ said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ‘’The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.’’

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

http://query.nytimes.com/gst/fullpage.html?res=9E06E3D6123BF932A2575AC0A9659C8B63&sec=&spon=&pagewanted=print

[sappy]

sweet, sweet Wobbly

[baddog 219]

Get ready for another bailout!