"Patriotism is a kind of religion; it is the egg from which wars are hatched." ~ Guy de Maupassant
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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