Fannie and Freddie leaving us?

[SubGod22]

Treasury Report Outlines Path for Winding Down Fannie, Freddie

The Treasury Department says in a report released Friday that the government should withdraw its support for the mortgage market slowly, over five years or more. The report describes a path for winding down the troubled mortgage giants Fannie Mae and Freddie Mac.

The three options are: end the government's role in guaranteeing most mortgages; support the mortgage market only in times of stress; or provide a government guarantee for mortgage investments created by private companies.

Under any scenario, the private sector will assume a greater role in housing finance as the government scales back its involvement. The government currently owns or guarantees more than 90 percent of U.S. mortgages.

[ISASO]

Well, now that Barney Frank, Chris Dodds, Raines and the other crooks are done raping us they will now set themselves up as heros for shutting it down. Of course, they are already working on setting up the next ponzi scheme to repeat the process.

[SubGod22]

I wish they'd just go away... Fannie Mae to Taxpayers: We Need Another $5.1 Billion

Mortgage finance giant Fannie Mae said it would ask for an additional $5.1 billion from taxpayers as it continues to suffer losses on loans made prior to 2009.

The largest U.S. residential mortgage funds provider on Friday also reported a second-quarter net loss attributable to common shareholders of $5.2 billion, or 90 cents per share.