**Written by Doug Powers
Thank goodness the Dodd-Frank bill took care of the problems, eh?
Mortgage finance giant Fannie Mae (FNMA.OB) on Friday said it would ask for an additional $8.5 billion from taxpayers as it continues to suffer losses on loans made prior to 2009.
The largest U.S. residential mortgage funds provider reported a net loss attributable to common shareholders of $8.7 billion, or $1.52 per diluted share, in the first quarter.
Including the latest request, the firm has taken about $100 billion from the U.S. government since it was seized in 2008, though it has also paid about $12.4 billion to taxpayers in interest.
May 10, 2011 | Categories: Agency Regulation, America's Freedoms, America's National Security, Congress, Constitutional Responsibilities, Corruption in Government, Deficit, Economic Security, Economic Terrorism, Election 2012, Elections Politics, Excessive Government Spending, Financial Sector, Foreign Policy, Government, Government Regulations, GSE, House of Representatives, Jobs, Liberals Big Spending and Taxes, Manufactured Crisis, National Debt, National Security, New Media News, Politics, Privacy for Citizens, Progressives pushing for Marxism/Socialism, Public Sector (Government), Radical Liberal Progressive Left, Redistribution of Wealth, Senate, TEA Taxed Enough Already, The Economy, Unemployment, Value of the Dollar | Tags: $8.5 billion, bailout, Barney Frank, cloward and piven strategy, Doug Powers, Fannie Mae, Freddie Mac, mortgage finance, serious losses, taxpayers suffer loss, U. S. Treasury | Leave A Comment »