USA — The Federal budget deficit came in lower than expected after Fannie Mae and Freddie Mac paid out $66.3 billion dollars in dividends to the government. The government “rescued” Fannie and Freddie during the 2008 financial crisis. Fannie Mae has paid $59.4 billion to the U.S. Treasury and Freddie Mac has paid $7 billion so far this year.
“So far, Fannie has repaid $95 billion of the roughly $116 billion it received, while Freddie has repaid roughly $37 billion of its $71.3 billion. Under a federal policy adopted last summer, Fannie and Freddie must turn over their entire net worth above $3 billion in each quarter to the Treasury.”
Welcome to Communism.
