By Alan Zibel
Fannie Mae has again asked taxpayers for more money — this time $8.4 billion — after reporting another steep loss for the first quarter. The taxpayer bill for rescuing Fannie and its sibling Freddie Mac has grown to $145 billion — and the final tally could be much higher.
The rescue of Fannie and Freddie is turning out to be one of the most expensive aftereffects of the financial meltdown. Late last year, the Obama administration pledged to cover unlimited losses through 2012 for the pair, lifting an earlier cap of $400 billion. And with the housing market still on shaky ground, Obama administration officials say it is still too early to draft any proposals to reform the two companies or the broader housing finance system.
Continue reading Fannie Mae Seeks $8.4B in Aid After 1Q Loss
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Finance Yahoo (10 May 10)