Fannie Mae seeks $15.3 billion more in aidSubmitted by pencils2 on Sat, 02/27/2010 - 13:47
WASHINGTON – Fannie Mae needs another $15 billion in federal assistance, bringing its total to more than $75 billion. And worse, the mortgage finance company warned its losses will continue this year.
The rescue of Fannie Mae and sister company Freddie Mac is turning out to be one of the most expensive aftereffects of the financial meltdown. The new request means the total bill for the duo will top $126 billion.
Clearly the bailouts have worked!