Posts Tagged ‘fannie mae losses’

Fannie Mae STILL losing taxpayer money!!!

August 5, 2011

Fannie MAe continue to lose taxpayer money.  In the last quarter:

“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…”

And if that is not BAD enough:

“Including the latest funding request, Fannie Mae has needed $104 billion in government capital injections since the U.S. Treasury seized control of it in 2008 during the financial crisis.”

Just to put that into perspective, IF that “loss was included in the budget in 1999 (the federal budgets can be found here), it would have equaled almost 20% of the ENTIRE federal budget!!!  IF it was included in the budget in 2007 it would have equaled almost 10% of the ENTIRE federal budget.  When I say ENTIRE federal budget, this includes all expenditures including Social Security, Medicare, Medicaid, Defense (or as some say, The Wars) etc.  Fannie Mae is a black hole eating our, the taxpayers, money!!

I have a few questions for Fannie Mae:

How much have you spent on BONUSES for your employees over that time?

Have you recovered the ILL GOTTEN bonuses for the years that these “bad loans” were made??