Thursday, November 05, 2009
Posted
11:31 PM
by Gene
Seized by federal regulators 14 months ago, the problems at Fannie Mae and sibling company Freddie Mac [typical ASSPress SIC!!!!!] have proven far worse than most experts had foreseen. Fannie Mae's request Thursday will bring the tab for rescuing both companies to about $111 billion. The government has promised up to $400 billion in assistance.
And Fannie Mae cautioned: "We do not expect to operate profitably in the foreseeable future." How many points will this add to the new massacre rally tomorrow?
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