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View Full Version : Biggest Bailout in History? Government Realty!


soonercruiser
5/7/2011, 09:33 PM
Fannie Mae seeks more federal aid in $8.7B loss BY THE ASSOCIATED PRESS Associated Press Leave a comment Published: May 7, 2011

WASHINGTON — Fannie Mae asked the government Friday for an additional $8.5 billion in aid after declining home prices caused more defaults on loans guaranteed by the mortgage giant.

The company said it lost $8.7 billion in the first three months of the year. Those losses led Fannie to request more than three times the federal aid it sought in the previous quarter. The total cost of rescuing the government-controlled mortgage buyer is nearing $100 billion — the most expensive bailout of a single company.

Combined with the bailout of sibling company Freddie Mac, the government expects their rescue to cost taxpayers about $259 billion. That money will cover their losses on soured loans made during the housing bubble.
http://newsok.com/fannie-mae-seeks-more-federal-aid-in-8.7b-loss/article/3565658?custom_click=lead_story_title


BEND OVER tax-payer!
cccasooner2
5/7/2011, 09:45 PM
Very large bonuses would help the Fannie and Freddie executives capitalize on the synergies that were in place at the time of the economic downturn. In addition, it would empower them to buy that yacht they always wanted.
2121Sooner
5/7/2011, 09:55 PM
And yet we have Dodd FRANK legislation to control the banks. Pretty funny you say bend over. Barney Frank would have it no other way
AlboSooner
5/7/2011, 10:13 PM
Let's stop bailing out Pakistan while we're at it.
delhalew
5/7/2011, 11:49 PM
Home of the gravy train...billions served.
REDREX
5/8/2011, 09:10 AM
Nice job Barney----Always a classic--- http://www.youtube.com/watch?v=cMnSp4qEXNM&NR=1
diverdog
5/8/2011, 09:14 AM
Nice job Barney----Always a classic--- http://www.youtube.com/watch?v=cMnSp4qEXNM&NR=1

I cannot believe he got re-elected. He should be in prison.
Ardmore_Sooner
5/8/2011, 10:02 AM
I cannot believe he got re-elected. He should be in prison.

He'd probably like that, if you catch my drift...
jkjsooner
5/8/2011, 01:23 PM
And yet we have Dodd FRANK legislation to control the banks. Pretty funny you say bend over. Barney Frank would have it no other way

If we would have adequately regulated the banks we wouldn't be in this mess to begin with.
OUthunder
5/8/2011, 03:29 PM
Ouch, it just gets worse it seems.
REDREX
5/8/2011, 03:41 PM
Why is anyone surprised?----Every time the Gov't tries to direct behavior it is a disaster
soonersponge
5/8/2011, 04:07 PM
If we would have adequately regulated the banks we wouldn't be in this mess to begin with.

You mean investment banks, not regular ol banks.
cccasooner2
5/8/2011, 04:34 PM
It's all China's fault, they keep funding our stupidity (to the tune of $1.2 trillion USD).

http://finance.yahoo.com/news/More-confident-China-apf-2691779513.html?x=0&sec=topStories&pos=3&asset=&ccode=
GKeeper316
5/8/2011, 05:33 PM
You mean investment banks, not regular ol banks.

both.

the restrictions lifted by gramm-leach-bliley allowed the investment banks to get money from the commercial banks (which had been illegal since the great depression).
KantoSooner
5/9/2011, 09:35 AM
It does strike me as weird that the solution for a problem caused by not enforcing laws we already had is.....enacting more laws.