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Government-backed mortgage lender Fannie Mae today asked for $15.3 billion in federal support after losing nearly $75 billion last year, according to a company statement released Friday.
In the final three months of last year alone, Fannie Mae lost $16.3 billion, the company said. Today Fannie Mae asked the Treasury Department to provide the federal infusion before March 31. In four previous infusions, the government has provided the ailing lender with around $60 billion to date.
Secretary Tim Geithner, Rep. Jeb Hensarling, R-TX, blasted the federal support for the two government-sponsored enterprises, arguing that the United States had deteriorated into “a bailout nation where the big get bigger, the small get smaller, and the taxpayers get poorer.”
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