www.sfgate.com -- The government has handed its ATM card to beleaguered mortgage giants Fannie Mae and Freddie Mac.The Treasury Department said Thursday it removed the $400 billion financial cap on the money it will provide to keep the companies afloat. Already, taxpayers have shelled out $111 billion to the pair, and a senior Treasury official said losses are not expected to exceed the government's estimate this summer of $170 billion over 10 years.
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5 Comments
Add your own1. matt | December 25th, 2009 at 7:52 pm
Merry xmas to us poor fuckers then I suppose.
2. Spade | December 26th, 2009 at 11:34 am
Welcome to the race to the bottom.
3. Plamen Petkov | December 26th, 2009 at 11:51 am
it’s official: Americans are the biggest doofusses on the planet.
They are gonna be providing me with hours of the best free entertainment for the next decade or so while their Empire is slowly sinking. Too bad they might drag the rest of the world down with them seeing how they got nothing to lose.
4. Diet Coke | December 26th, 2009 at 1:50 pm
Good thing that the government is never going to pay back that debt and America will collapse into total anarchy soon, otherwise this might be horrible news.
5. Phoenix Woman | December 27th, 2009 at 9:04 pm
And of course the guy who used to be part of Fannie/Freddie not all that long ago is the same guy who gave us NAFTA, the big fork-you to the Democratic base.
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