Another Quarter, Another 25 Billion
Fannie Mae reports US$25 billion loss for 4Q2008. Wants another 15 billion. Cash flow statements are rather revealing of the political mandate of large puchases of MBS last year. Wonder how much cash brother Freddie blew ? Not to speak of cousin Ginnie, whose paper is explicitly guaranteed by the full faith and credit of the United States of America…
From Fannie:
http://www.fanniemae.com/media/pdf/newsreleases/form10k_newsrelease_022609.pdf