They're back!!!!! No, not the poltergeists but another nightmare that just won't go away -- Fannie Mae & Freddie Mac ... and this time they want even MORE of your money. According to AP:
Fannie Mae has again asked taxpayers for more money after reporting a first-quarter loss of more than $13 billion.
The mortgage finance company, which was rescued by the government in September 2008, said it needs an additional $8.4 billion from the government to help cover mounting losses.
Fannie Mae says it lost $13.1 billion, or $2.29 per share, in the January-March period. That takes into account $1.5 billion in dividends paid to the Treasury Department. It compares with a loss of $23.2 billion, or $4.09 a share, in the year-ago period.
The rescue of Fannie Mae and sister company Freddie Mac is turning out to be one of the most expensive aftereffects of the financial meltdown. The new request for aid will bring Fannie Mae's total to $83.6 billion. The total bill for the duo will now be nearly $145 billion. (emphasis added)
Anyone else think that there will be a part three to this movie?