Fannie and Freddie have been cash cows for friends of Democrat politicians. They go there and make millions and then leave. These two entities have been bailed out time and again since the stimulus and now Fannie wants more money:
Fannie Mae, the mortgage-finance company under federal conservatorship, said it will seek $15.3 billion in aid from the U.S. Treasury after posting a 10th straight quarterly loss.
A fourth-quarter net loss of $16.3 billion, or $2.87 a share, pushed the company to request its fifth draw on an unlimited lifeline from the government, Washington-based Fannie Mae said in a filing today with the Securities and Exchange Commission. Bloomberg
These two organizations are the ones Barney Frank said were not in trouble. These are the ones that Democrats protected and claimed were solvent.
They made these claims despite George Bush’s concern over their financial health.
We know what happened to them and now they want more money from the taxpayers.
Is the government the organization you want running your health care?
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