Fannie, Freddie May Draw $363 Billion, FHFA Says

Surprise surprise...
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.

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.
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.

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.

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