Fannie Mae seeks $8.5 billion from taxpayers

[The Northerner]

WASHINGTON (Reuters) – Mortgage finance giant Fannie Mae (FNMA.OB) on Friday said it would ask for an additional $8.5 billion from taxpayers as it continues to suffer losses on loans made prior to 2009.

The largest U.S. residential mortgage funds provider reported a net loss attributable to common shareholders of $8.7 billion, or $1.52 per diluted share, in the first quarter.

Including the latest request, the firm has taken about $100 billion from the U.S. government since it was seized in 2008, though it has also paid about $12.4 billion to taxpayers in interest.

Loans made in the past two years have been more profitable than loans made during the housing boom in preceding years.

Read more: http://news.yahoo.com/s/nm/20110506/bs_nm/us_usa_treasury_fannie_mae

[xchrom]

1. Recommend

[rfranklin]

2. More of our dollars paying for the sins of the mega bankers....

When will we be free of this pestilence?

[elleng]

3. What means 'attributable to common shareholders?'

[kentuck]

4. The middle man covering for more losses by the big banks.

Just give the money to the banks and be done with it. Stop bullshitting the people.