"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Your Share of Fannie, Freddie Losses: $1,300
Submitted by Melinda L. Secor on Sun, 2012-03-04 02:00
"Fannie and Freddie were once profitable, but the money they have lost dwarfs what they made in good years. During the three years leading up to the house price peak, Fannie reported annual profits of between $4.1 billion and $6.3 billion, and Freddie, $2.1 billion to $2.9 billion. During the five years since, Fannie lost a cumulative $163 billion, and Freddie, which hasn’t yet reported fourth quarter results for 2011, $91 billion."
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