Thursday, May 20, 2010

What's our total tab now in shoring up Fannie Mae and Freddie Mac? About $200 billion?

How much more will we subsidize these losers?

What is so special about home ownership that it deserves all these subsidies? I rent. I'm a blogger. I'll never own a home. I'll never get unemployment insurance. In bailout nation, there's no bailout for the humble blogger.

Alan Zibel writes: WASHINGTON (AP) — Freddie Mac is asking for $10.6 billion in additional federal aid after posting a big loss in the first three months of the year. It's another sign that the taxpayer bill for stabilizing the housing market will keep mounting.

The McLean, Va.-based mortgage finance company has been effectively owned by the government after nearly collapsing in September 2008. The new request will bring the total tab for rescuing Freddie Mac to $61.3 billion.

But the company's CEO Charles Haldeman said, "We are seeing some signs of stabilization in the housing market, including house prices and sales in some key geographic areas."

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