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Politics : Politics for Pros- moderated

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To: Brumar89 who wrote (391177)	11/4/2010 5:51:08 PM
From: FJB	2 Recommendations Read Replies (1) of 793983

Fannie Mae, Freddie Mac Fix May Cost U.S. Taxpayers $685 Billion, S&P Says By Clea Benson - Nov 4, 2010 2:23 PM CT bloomberg.com Fannie Mae and Freddie Mac, the mortgage firms operating under federal conservatorship, may cost taxpayers as much as $685 billion as the U.S. covers losses and overhauls the housing-finance system, Standard & Poor’s said. Costs for resolving the two government-sponsored entities could reach $280 billion, including $148 billion already delivered under a U.S. Treasury Department promise of unlimited support, New York-based S&P said today in a research report. The government may spend another $405 billion to capitalize a replacement for the two companies, which own or insure more than half the U.S. mortgage market. Continues...

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