"A Nation with a Government, not a Government with a Nation"

"A Nation with a Government, not a Government with a Nation"

Thursday, 21 October 2010

And Who Is Going to Pay for This?

Fannie, Freddie bailout could nearly double in size
By Zachary A. Goldfarb

Washington Post Staff Writer
Thursday, October 21, 2010; 1:53 PM

The federal bailout for Fannie Mae and Freddie Mac could nearly double in size during the next three years, according to projections from the companies' federal regulator.

Fannie and Freddie, the federally controlled mortgage finance giants, will need as much as $215 billion more from taxpayers in the next three years to meet their financial obligations, the Federal Housing Finance Agency said Thursday, but much of that money would automatically be returned to the government.

The growing taxpayer infusions will cover losses Fannie and Freddie suffer on home loans, as well as payments the companies must make to the U.S. Treasury in exchange for a federal guarantee to provide cash to keep the companies solvent.

Citizens Against Government Waste

Citizens Against Government Waste