$400 B Not Enough
Interesting. China stops buying MBS, so Benny and the Feds step in. Benny says he’s going to quit next year, honest, and Fannie and Freddie are back at the Treasury trough.
“The companies say their 10 percent annual dividend payment, which comes to about $5 billion each, costs more than either have earned in most years”
“Washington-based Fannie Mae, which has lost $120.5 billion over the last nine quarters, has requested $60.9 billion from the Treasury this year. McLean, Virginia-based Freddie Mac has tapped $50.7 billion in government capital since November 2008 and recorded $67.9 billion in cumulative losses over the last nine quarters amid a three-year housing slump.”
