Oct. 21 (Bloomberg) -- Fannie Mae and Freddie Mac, the mortgage-finance companies operating under U.S. conservatorship, may need as much as $363 billion in Treasury Department aid through 2013, the Federal Housing Finance Agency said.You got to love the "little" adjective here. So you might end up with as "little" as $221 billion, if there's a strong near-term recovery. We'll definitely get one of these in a fairytale. Unfortunately, the real world is in the beginning years for the Greater Depression.
FHFA, which oversees the government-sponsored entities, offered the estimate as a worst-case scenario in an analysis modeled on the stress tests conducted on the nation’s biggest banks last year, the regulator said in a report released today. Aid to the two firms, which have drawn $148 billion since they were seized in 2008, could total as little as $221 billion in the event of a “strong near-term recovery,” FHFA said.
By the way, according the Google Public Data repository, there are about 307 million inhabitants in the US. So the $363 billion bailout of Fannie & Freddie means that every single inhabitant of the US — babies, children included — has been expropriated of more than $1,000 to pay the irresponsible speculators who lent money to these two insolvent companies.