PONZI | Fannie Mae Seeks $5.1 bln More from US Taxpayers

Fannie Mae seeks $5.1 bln more from US taxpayers

By David Lawder

WASHINGTON, Aug 5 (Reuters) – Mortgage finance giant Fannie Mae (FNMA.OB) said it would ask for an additional $5.1 billion from taxpayers as a weaker housing market causes continued losses on loans made prior to 2009.

The largest U.S. residential mortgage funds provider on Friday also reported a second-quarter net loss attributable to common shareholders of $5.2 billion, or 90 cents per share.

It forecast continued weakness ahead, with high unemployment and foreclosures expected to put more downward pressure on home prices.

Fannie Mae paid back $2.3 billion in dividends to taxpayers in the second quarter, reducing its net capital draw to $2.8 billion. Since the firm was seized by the U.S. Treasury in 2008, it has needed about $104 billion in government capital injections, although it has paid back about $14.7 billion in dividends.

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Comments
8 Responses to “PONZI | Fannie Mae Seeks $5.1 bln More from US Taxpayers”
  1. Jeanette Ambrose says:

    all coming down.

  2. Totally exhausting! I think I want to just puke! Do they really think the funds are helping the homeowners!

  3. lvent says:

    THE TRUTH!!!!!!!!!!! THEY ARE STILL ROBBING THE AMERICAN PEOPLE WITH THE SAME MORTGAGE FRAUD PONZI SCHEME!!!!!!!!!!!!!!!!!…………..THESE CROOKS HID OUR STOLEN WEALTH THAT THEY STOLE IN THE INTENTIONAL STOCK MARKET COLLAPSE IN OVERSEAS BANKSTER ACCOUNTS AND ARE TRYING TO FORCE ALL OF US TO PAY FOR ALL OF THEIR MORTGAGE FRAUD. THIS IS BEING DONE VERY DECEPTIVELY, I MIGHT ADD…………………MAKE THE WALL STREET CROOKS PAY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! NOT MAINSTREET!!!!!!!!!!!!!!!!!!

    • housemanrob says:

      The thing that pisses me off the most is………all of the illegal toxec junk mortgages that banks have been able to dump on Fanny………AFTER DEFAULT……….the banksters get paid again and the taxpayers pick up the tab! This is fuc—- war!

      • This aint gonna fly says:

        and they also get to take our homes and throw us out>>>>>>>>>>>>>>>>>>>>

      • lvent says:

        Rob, Fannie and Freddie played both sides of the coin,,,,They backed the TOXIC loans THEY CREATED AND APPROVED on the full faith and credit of the U.S. taxpayer, then they bought back those TOXIC LOAN loans for pennies on the dollar backed by the IMF who are the biggest shareholder in FANNIE MAE’s WORTHLESS BONDS. (bloomberg spilled the beans on that fact many months ago) THEY RANG the AMERICAN TAXPAYER UP WITH BAD DEBT AND THEY SOLD INTEREST IN THAT BAD DEBT OFF VIA WALL STREET…THE IMF HOLDS THE WORTHLESS TOXIC DEBT BONDS BACKED BY BAD DEBT……….BUT, THEY ALL GOT FILTHY STINKING RICH ROB……………………..AND STUCK THE AMERICAN TAXPAYER WITH THE BILL………………….REMEMBER THE BAILOUT EXTORTION…………………………OF OUR MONEY……………………THAT TOXIC DEBT THEY CREATED IS UNSUSTAINABLE NOW THAT THEY CRASHED WORLD ECONOMY………….IT WAS A SET UP TO FAIL FOR AMERICA, BY THE RULING ELITE. THE NEW WORLD ORDER………..

      • lvent says:

        ROB, FANNIE AND FREDDIE ARE WHO RANG THE U.S TAXPAYER UP…AND THEY GOT FILTHY STINKING RICH OFF OF IT……………………..THEY HAVE OUR STOLEN WEALTH HIDDEN IN OVERSEAS BANK ACCOUNTS…….THE GSE’S SET US UP TO FAIL AND ROBBED US BLIND AND SCREWED US, HUN………………..

      • lvent says:

        THEY WANT TO BANKRUPT THE AMERICAN PEOPLE AND THE U.S. GOVERNMENT IS FULL OF SHIT, AMERICA IS NOT BROKE AND THAT IS A BIG LIE………………….WHERES OUR EFFING GOLD????????????????????????? AND IF FORT KNOXX DOESNT HAVE IT, WHO THE F–K STOLE IT???????????????????????? THE NEW WORLD ORDER IS HOLDING OUR GOLD HOSTAGE…………………………….WE THE PEOPLE WANT IT BACK……

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