Fannie Mae Posts Big Loss, Takes $15B in Bailout Cash
By Kevin Spak, Newser User
Posted Feb 27, 2009 6:43 AM CST
In this 2008 file photo, specialists gather around the post where their firm trades Fannie Mae prior to the opening bell at the New York Stock Exchange.   (AP Photo/Henny Ray Abrams, file)

(Newser) – Fannie Mae received $15 billion from Uncle Sam last night after reporting a $25.2 billion fourth-quarter loss, the Washington Post reports. The loss, caused mostly by sinking mortgage-related investments, brought the company’s 2008 losses to $59 billion. This marks the first time Fannie has dipped into its potential pool of $200 billion in federal aid; sibling Freddie Mac has received $14 billion and said recently it may ask for $35 billion more when it reports.

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Guest
Mar 20, 2009 5:17 AM CDT
Fannie and Freddie are quasi-public. If mortgages are still so volatile, why are they still guaranteeing risky 90-10 mortgages? At least that's what the ads say, that they still have not returned to the normal 80-20 mortgages and certainly not to the more conservative 30-70 ones. So what're they waiting for? More government bailout of private enterprise? We are such welfare queens.
Guest
Feb 26, 2009 7:58 PM CST
Yeah, the government had nooo role in this crisis. Allll the free market's fault..