Fannie Mae Posts Record Profit; Paid Taxpayers $11.6 Billion In 2012

[denem]

Source: http://www.npr.org/blogs/thetwo-way/2013/04/02/176

The government-controlled mortgage giant Fannie Mae, which needed a $116 billion federal bailout after the housing bubble burst in 2007, said Tuesday that it earned a record $7.6 billion in fourth-quarter 2012 and $17.2 billion for the year.

That allowed it to pay $11.6 billion in dividends to the U.S. Treasury Department last year, Fannie Mae says. Since 2008, it has "paid taxpayers $35.6 billion in dividends." Looking ahead, "we expect our earnings to remain strong over the next few years," Timothy Mayopoulos, president and chief executive officer, said in a statement.

Read more: NPR

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All up Fannie & Freddie have been a good investment

Fannie Mae Beats Wal-Mart and GE With Record Profit in 2012

Washington-based Fannie Mae and McLean, Virginia-based Freddie Mac (FMCC) buy mortgages from lenders and package them into securities on which they guarantee payments of principal and interest. Since they were taken into conservatorship in 2008, the two companies have drawn $187.5 billion from Treasury and have sent back $65.2 billion in dividends, which count as a return on the government’s investment and not as a repayment.

Freddie Mac reported in February that it earned $11 billion in 2012, compared with a loss of $5.3 billion in 2011

http://www.bloomberg.com/news/2013-04-02/fannie-mae-reports-record-profit-for-2012-on-housing-s-recovery.html

Needless to say Wall Street Doesn't see it that way. Although the public own 80% of the ordinary shares, the interest payments on the bailouts represent outrageous usury:
http://www.bloomberg.com/news/2013-04-02/fannie-freddie-don-t-deserve-capital-punishment.html

[denem]

1. If it bleeds it leads.

Good news doesn't sell.

[bhikkhu]

2. Very good news

Looking back at things like this: http://www.theepochtimes.com/n2/business/fannie-mae-and-freddie-mac-edging-toward-extinction-47037.html

...which plenty of repugs still believe, its very good to see another success story of the government-led response to the recession. Fannie Mae performs a very important role in the economy (and they hold the mortgage I refinanced recently through my credit union), largely stabilizing and facilitating the housing market. Its one of those things that works in the background and gets taken for granted most of the time, but they make it easier for us to buy and own homes.