Government run...Fannie Mae Seeks $15 Billion in Aid After Posting Loss (unemployment rate, companies)

[bentlebee]

Fannie Mae is asking for an additional $15 billion in government aid after posting another big loss in the third quarter as the taxpayer bill from the housing market bust keeps rising.

The government-controlled company continued to see a dramatic surge of borrowers fall behind as the unemployment rate climbs. At the end of last month, about 4.7 percent of Fannie Mae's borrowers had missed at least three payments. That's nearly triple last year's level.
Fannie Mae Earnings - Fannie Mae Seeks $15 Billion in Aid After Posting Loss - Companies * US * News * Story - CNBC.com (http://www.cnbc.com/id/33688574 - broken link)


They also announced today that they are going to rent out the foreclosed homes... too they people that aren't paying their mortgage...do they really think they noware going to pay when they lived their for free.....

[pghquest]

They also want to SELL tax credits to GS at the taxpayers expense..

[summers73]

I was just debating with GreatDay the other day and he seemed to think they'll prosper and do fine. Glad he's not handling my affairs!

[Wapasha]

Originally Posted by bentlebee

Fannie Mae is asking for an additional $15 billion in government aid after posting another big loss in the third quarter as the taxpayer bill from the housing market bust keeps rising.

The government-controlled company continued to see a dramatic surge of borrowers fall behind as the unemployment rate climbs. At the end of last month, about 4.7 percent of Fannie Mae's borrowers had missed at least three payments. That's nearly triple last year's level.
Fannie Mae Earnings - Fannie Mae Seeks $15 Billion in Aid After Posting Loss - Companies * US * News * Story - CNBC.com (http://www.cnbc.com/id/33688574 - broken link)


They also announced today that they are going to rent out the foreclosed homes... too they people that aren't paying their mortgage...do they really think they are now going to pay when they lived their for free.....

What they need to do is close down Freddie and Fannie, ban them from giving out any more loans, and let them fade away.