phej
02-26-2010, 09:08 PM
Fannie Mae announced 2009-Q4 results. The company lost an astonishing $15 billion. For the year, $74 billion:
Reuters: (To view links or images in this forum your post count must be 2 or greater. You currently have 0 posts.)
WASHINGTON (Reuters) - Fannie Mae, the largest provider of residential mortgage funds, on Friday reported a loss of $16.3 billion for the fourth quarter of last year and said it requested $15.3 billion from the Treasury to keep its net worth in positive territory.
HOUSING MARKET
The government-controlled company said it would need additional taxpayer funds in the future to continue operations.
Fannie Mae said the quarterly loss came as rising defaults kept credit-related expenses elevated at $11.9 billion, though expenses were almost half the third quarter level of $22.0 billion.
Fannie Mae's quarterly loss was $15.2 billion before a $1.2 billion dividend payment on senior preferred stock owned by the Treasury, putting total 2009 losses at $74.4 billion, compared with $59.8 billion in 2008...
Apparently Bernanke is comparing Fannie Mae and Freddie Mac to platypuses (To view links or images in this forum your post count must be 2 or greater. You currently have 0 posts.)...
Reuters: (To view links or images in this forum your post count must be 2 or greater. You currently have 0 posts.)
WASHINGTON (Reuters) - Fannie Mae, the largest provider of residential mortgage funds, on Friday reported a loss of $16.3 billion for the fourth quarter of last year and said it requested $15.3 billion from the Treasury to keep its net worth in positive territory.
HOUSING MARKET
The government-controlled company said it would need additional taxpayer funds in the future to continue operations.
Fannie Mae said the quarterly loss came as rising defaults kept credit-related expenses elevated at $11.9 billion, though expenses were almost half the third quarter level of $22.0 billion.
Fannie Mae's quarterly loss was $15.2 billion before a $1.2 billion dividend payment on senior preferred stock owned by the Treasury, putting total 2009 losses at $74.4 billion, compared with $59.8 billion in 2008...
Apparently Bernanke is comparing Fannie Mae and Freddie Mac to platypuses (To view links or images in this forum your post count must be 2 or greater. You currently have 0 posts.)...