Fannie Mae Wants $5.2 Billion to Survive

Fannie Mae is asking it’s owners, the U.S. Taxpayers, for a $5.2 Billion bailout, to top off it’s previous $104 Billion bailout.

Hot Air – Ed Morrissey:

Congress and Obama have had more than two years to work on disconnecting taxpayers from Fannie Mae and Freddie Mac.  Even if one accepts the notion that seizing the two GSEs made sense as an emergency measure, we cannot keep covering their losses.  At some point in time, the investors have to take responsibility for their bad decisions.  Instead of passing ever-increasing regulation on industry that chokes off economic growth, perhaps the Obama administration and Congress should spend some time protecting taxpayers from the ongoing bleed-out at Fannie and Freddie.

I can hear the printing presses humming. Original story source: Yahoo News

Linked by Trestin at Trestin Meacham in The Top 25: Deep Thoughts Edition (remember Jack Handey:-)

  • It’s largely because of government support for GSE’s like Fannie & Freddie that the housing bubble skyrocketed out of control, and the country will likely suffer for years to come absorbing losses, shuffling capital, and repairing balance sheets.

    The economic concepts of both Fannie and Freddie are great, but neither institution should have government support subsidize debt.

  • Let Fannie Mae root hog or die. Screw them! No way should Fannie Mae, Freddie Mac, or ACORN be given one thin dime of American taxpayer money – ever again. Let them go under along with our lousy Government. We as Americans should impeach Obama for his evil stimulus package that didn’t work – shovel that idea. All Obama is doing is playing the blame game and trying to ruin our country. WHERE IS HIS BIRTH CERTIFICATE BTW? WHAT A JOKE!
    I’m convinced he never graduated from Harvard or has a US Birth Certificate as he not REAL – except in one way only. Obama is a REAL FRAUD, REAL MUSLIM, who has sown to the wind and will reap a Whirlwind. I said that from the get go! As I blogged it on Maggie’s Notebook when all this bull crap started four long years ago. Maggie as my witness & I will not be moved from my stand on this statement until my last breath.