Fannie Mae Bailout?
Fannie Mae, the largest buyer and guarantor of US mortgages, accounting for at least one in five home loans nationwide, posted its third consecutive quarterly loss yesterday, and at the same time warned the US housing market slump will persist into next year...
So, what did the regulators do? Lower capital requirements of course -- from 20% to 15%. Note: this is AFTER their surplus requirements were reduced from 30 percent to 20% in mid-March -- What a crock of @$!!
With foreclosures increasing and the housing collapse still in its early stages, we better start getting used to the idea that a Taxpayer bailout is in the cards ($ Trillions!!!)
Must see/analyze the illustrations below: