Fannie Mae Seeks $8.5 Billion in U.S. Aid

Fannie Mae Seeks $8.5 Billion in U.S. Aid

www.sfgate.com

Fannie Mae, the mortgage-finance company operating under U.S. conservatorship, will seek $8.5 billion in Treasury Department aid to balance its books after reporting a $6.5 billion loss in the first quarter.

(visit the link for the full news article)

I can't believe what I am reading. If business' lose money, they should go out of business. Do they really think that we will allow this?

How CAN we allow it? That is OUR tax money going to them! Hell, I would rather see tax money go to offset the rising prices in gas!

They pay themselves bonus' for mismanaging corporations and corrupting our democratic system to line their own pockets. This is bull# and it's time to stand up against these terrorists!



www.sfgate.com
(visit the link for the full news article)

Your republic has failed and capitalism died in 07.

Enjoy the new empire of snakes.

read up

fanny mae found in 1938 as part of the new deal of fdr

revenue in 2009 $72 BILLION

total assets $869 BILLION

total equity: $15.4 BILLION

en.wikipedia.org...

so let get this striaght? look at those figures and you tell me why they need more bailout money?

answer there is no need especially since the government owns them its like loaning themselves more money for crying out loud.

this stupidity has got to stop.

This is absolutely astonishing. This company shouldn't get a dime. They should be allowed to go under, and all the mortgages they own should be either waived, sold to a competitor, or transferred to the U.S. Treasury.

The fact they even had the balls to request ANY further aid should be grounds to have all the CEOs, board members, etc. admitted into a mental institution, for they are clearly insane.

This won't be all of it either, you mark my words - the amount of # these banks have "off the books" is enough to destroy the global economy multiple times over.
If this debt gets transferred to public, they will wait a bit and simply transfer some more of the hidden losses back onto the balance sheet and then ask for more.
It will never end unless we end it for them.

The word "Jubilee" springs to mind - anyone remember this concept? Look it up, it's supposed to be an integral part of this usuary system. Seems we forgot about that bit.

Whoooo boy.
I can hardly wait for Monday.

see, they got the bailouts in 2008, becuase of bush and that ex AIG chairman guy, $800 billion...taxpayers money. here we go again..mor eof our bent over n taken away tax money, as if it isnt enough, amerucasn have been layed off by its own financial system. screw fannie mae* let em go under* if they get bailout moeny, i 2nd revolt and maheym in the streets, perticulary on fanny mae*

This is what globalization is all about..remember the commercials ont v, bringing us all together? it was to suport bank greed* pure n simple* NWO is coming..

This is absolutely crazy! Well on a brighter note.....just bought some land in new mexico! next comes the concrete! then solar panels....and yadda yadda ya, blassi blassi bla!...you know where im going with this. Fannie mae wont have anything to do with it, however they contribute to the need for it! Connecting the dots is fun!

I dont know why this thread is not getting more attention, This is serious and its not even a conspiracy why should the government bail them out again for bad buiseness practice ?

reply to post by Stringycheeseman


Make me happy and let it die already.
These financial cancers are killing us, we need to start chopping off some limbs and let them die.
Otherwise they will kill the body.
I am sure they will get the QE (insert next number).

America is not a democracy no more, it's corporationalism, run by the corporations.

Originally posted by Kinley241
I dont know why this thread is not getting more attention, This is serious and its not even a conspiracy why should the government bail them out again for bad buiseness practice ?

The government will bail them out OR "we will crash the financial system and there will be martial law in the streets of America"...At least that's what they said last time, can't see why they wouldn't try it again.

How utterly disgusting, that a once great nation now falling apart at the seams will give these bastards billions while its people now many living on welfare and food stamps suffer. This suffering was caused by the very same financial institutions that now cry for multi billion goverment handouts to keep paying its director multi million dollar bonuses. Sickening..just sickening.
Wake up America.

Heres another article about this. Pretty much says the same thing.

Fannie Mae seeks $8.5 billion more in federal aid

WASHINGTON – Fannie Mae asked the government Friday for an additional $8.5 billion in aid after declining home prices caused more defaults on loans guaranteed by the mortgage giant.

The company said it lost $8.7 billion in the first three months of the year. Those losses led Fannie to request more than three times the federal aid it sought in the previous quarter. The total cost of rescuing the government-controlled mortgage buyer is nearing $100 billion — the most expensive bailout of a single company.

Most expensive bailout.....

Combined with the bailout of sibling company Freddie Mac, the government expects their rescue to cost taxpayers about $259 billion. That money will cover the mortgage giants' losses on soured loans made in the midst of the housing bubble.

259 billion.....

The Obama administration unveiled in February a plan to slowly dissolve the mortgage companies. The aim is to reduce the government's role in the mortgage market. Exactly how that would happen was left for Congress to decide.

Maybe these companies want as much money as they can before/if they are scrapped? (I doubt they will be scrapped btw)

english banks will be following soon then.

just because its a bank why should it get bailout? joe blogg down the road wont get a bailout if his paint buisness collapses will he? banks just want to make money from ppl without money, thats the problem with banks. #*&# the banks is what i say. they caused this by giving credit to ppl who they know cant pay it back. and thats not a dig at poor ppl, its just the way we live now.

new tv comes out, we want it, we got no money for it so stick it on the credit card and pay interest,

gone are the days of saving up for it.

Originally posted by originunknown
... they caused this by giving credit to ppl who they know cant pay it back. ...

AND then they bet AGAINST those loans and make a killing because they know for sure that the loans are junk
It is not possible to lose at this game - unless you don't know it's going on then you will always lose. Nice game.

they'll get it, every dime of it and nobody will do anything about it but complain.
we have been taken over.

Ever since I learned about what was happening within the mortgage "industry" back in 2007, I have been trying to figure out who has been receiving the PMI (private mortgage insurance) payments on all these defaulted loans. I thought that money was to protect the lien holder. But, I never find mention of those funds in all these discussions of bailouts.

Does anyone know where the money goes?