Thursday - A Federal Regulator announced that FannieMae & Freddy Mac needs between 221 - 363 billion dollars through 2013 to keep the financial elephants afloat. These two companies are responsible for funding the lions share of US housing and are chartered by the US Congress.But how can this be? Remember - not to long ago while being interviewed Congressman Barney Frank, Chris Dodd, and Maxine Waters previously assured us that these agencies were, in fact, rock solid.
Losses continue to mount as real estate woes continue across the entire nation.
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1 comment:
They need between 221- 363 billion dollars? That's a HUGE difference. We are not talking about 1-2 thousand. Sounds like someone needs a good accountant or someone that can figure out totals.
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