The Treasury may not be providing $800 billion to Fannie Mae, but it is providing $1.5 billion. That's how much the troubled government sponsored enterprise needs after its latest $1.2 billion quarterly loss. That's much better than its $14.8 billion loss a year earlier, but still pretty bad. Marketwatch explains the Treasury's role in keeping Fannie afloat:
Treasury will inject the money by buying another chunk of senior preferred stock from Fannie. That will bring the government's preferred stock investment in Fannie to $86.1 billion.
It's brother Freddie Mac hasn't yet reported its second quarter loss yet, but its bailout tally through Q1 was $63 billion. That likely rose last quarter as well.
Read the full story at Marketwatch.
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