Fannie Mae posts $2.1B loss for Q4, asks for additional $2.6B in aid

[The Straight Story]

Fannie Mae posts $2.1B loss for Q4, asks for additional $2.6B in aid


WASHINGTON (AP) -- Government-controlled mortgage buyer Fannie Mae has posted a narrower loss of $2.1 billion for the October-December quarter of last year, and asked for an additional $2.6 billion in federal aid.

The new request is slightly more than the $2.5 billion it sought in the July-September quarter. The mortgage buyer also reported a $21.7 billion loss for all of 2010.

The government rescued Fannie Mae and sibling company Freddie Mac in September 2008 to cover their losses on soured mortgage loans. It estimates the bailouts will cost taxpayers as much as $259 billion.

Fannie Mae's October-December loss attributable to common stockholders works out to 37 cents a share. It takes into account $2.2 billion in dividend payments to the government.

http://finance.yahoo.com/news/Fannie-Mae-posts-21B-loss-for-apf-1743661196.html

[Lance_Boyle]

1. Curl up and die already, Fannie.

And take your crooked brother Fred with you. The both of them cost billions and produce... nothing.

[rucky]

2. +1

[The Northerner]

3. +2

[Jmaxfie1]

4. That company is just one big hole in the ground. n/t