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News Link • TAXES: Federal

Fannie Mae seeks $5.1 bln more from US taxpayers

• Reuters

Mortgage finance giant Fannie Mae (FNMA.OB) said it would ask for an additional $5.1 billion from taxpayers as a weaker housing market causes continued losses on loans made prior to 2009.

The largest U.S. residential mortgage funds provider on Friday also reported a second-quarter net loss attributable to common shareholders of $5.2 billion, or 90 cents per share.


1 Comments in Response to

Comment by James Eldridge
Entered on:

My head really hurts from all of this talk about bailouts for these people that knew what they were doing from the beginning of this problem. I don't know what would happen if they totally went under, but won't that be a good thing for those crooks to have to understand what it is like to not have the money to provide for your welfare and that of your family! And besides, if they didn't get the money and lost their income, don't they have more then enough to survive on for the rest of their rotten lives. It's not as though they are going to be without money having put so much of tax payer monies into their own pockets. 

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