Tuesday, March 01, 2011

Fannie and Freddie Report More Losses

From the National Tax Payers Union:
"Just how much are we on the hook for this time? Combined, the two mortgage behemoths have requested another $3.1 billion from the Treasury after once again reporting losses in the millions. Since 2008 when the companies were placed under government conservatorship, the two companies have received nearly $156 billion in taxpayer money.

The enormous financial drain isn’t expected to end here. President Obama’s budget estimates that losses by Fannie and Freddie could reach $224 billion by the end of the year."
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