Fannie Mae Posts Big Loss, Takes $15B in Bailout Cash

By Kevin Spak,  Newser Staff
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)
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(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. (Read more Fannie Mae stories.)