Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

3 Bumps

Fannie Mae wants more money. Anyone Surprised?

This infuriates me. On top of that check out the link below.

Mortgage giant Fannie Mae reported its 12th consecutive quarterly loss and said it needs $1.5 billion from the U.S. Treasury Department to cover the cost of defaulted home loans. A $1.2 billion second-quarter loss was substantially less than the $14.8 billion loss posted in the same quarter last year. The company said it expects housing prices to "decline slightly" through the end of 2011.

Link text

Answer Question
 
itsmesteph11

Asked by itsmesteph11 at 12:26 PM on Aug. 6, 2010 in Politics & Current Events

Level 39 (113,405 Credits)
Answers (18)
  • No, not surprised.
    QuinnMae

    Answer by QuinnMae at 12:37 PM on Aug. 6, 2010

  • Not surprised at all. Anything the govmt touches turns to a pile of $hit.
    miriamz

    Answer by miriamz at 12:40 PM on Aug. 6, 2010

  • Let them sink into bankruptcy! Instead of controlling our loses, let the free market stabilize the industry and get back to normal levels.
    NikkiVan1

    Answer by NikkiVan1 at 12:45 PM on Aug. 6, 2010

  • It's sickening. They are a crucial problem that aided in our nation's financial woes....

    grlygrlz2

    Answer by grlygrlz2 at 1:04 PM on Aug. 6, 2010

  • Payback time.
    Carpy

    Answer by Carpy at 1:30 PM on Aug. 6, 2010

  • How did they manage to spend a blank check? (sorry couldn't resist)
    sopranomommy

    Answer by sopranomommy at 1:34 PM on Aug. 6, 2010

  • How did they manage to spend a blank check? (sorry couldn't resist)


    The best person to ask is Barney Frank.. But don't expect a REAL answer.... Because afterall Fannie and Freddie are "fine" to good ole Bwarney..

    grlygrlz2

    Answer by grlygrlz2 at 1:36 PM on Aug. 6, 2010

  • Not surprising!! Considering the 2000 page Financial Reform Bill leaves Fannie Mae and Freddie Mac EXEMPT from the rules that all the other banks and mortgage companies are required to abide by! I guess holding over a trillion dollars in mortgages has its benefits!! *sigh*
    LoriKeet

    Answer by LoriKeet at 1:38 PM on Aug. 6, 2010

  • Yup Lori.... Didn't you know~ They are too big to fail in the eyes of Democrats... Despite what negative impact they have on the US economy...
    grlygrlz2

    Answer by grlygrlz2 at 1:42 PM on Aug. 6, 2010

  • But Barney said Freddie and Fannie were ok!!!!!!!!!!!!!!!!! What, he wasn't being forthright and honest!!! OMG!!


    jaw drop

    jesse123456

    Answer by jesse123456 at 1:45 PM on Aug. 6, 2010

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.
close Join now to connect to
other members!
Connect with Facebook or Sign Up Using Email

Already Joined? LOG IN