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Sunday, February 13, 2011

Fannie, Freddie bailout: $153 billion ... and counting

CNN Money
By Chris Isidore, senior writer


NEW YORK (CNNMoney) -- When the dust settles, the federal bailout of Fannie Mae and Freddie Mac will be the most expensive government rescue of the financial crisis -- it already stands at $153 billion and counting.

Even as the Obama administration unveiled its plan for reforming the firms, experts agree taxpayer losses are going to continue to climb, no matter what Congress eventually decides to do with them.

For the full article click the link above

28 comments:

  1. It's just amazing how governments throw these ridiculous amounts of money around.

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  2. "no matter what Congress eventually decides" is never a good thing to hear when you're dealing with the innocent public's money

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  3. *tisk* *tisk* when will they ever learn.

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  4. After watching some videos made specifically by economists, it appears that within this year, the economic system is going to collapse. Most agree that this will only continue for 6 months to a year until a new economy type can be put into place. Hope you are stocking up on rice and toilet paper haha.

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  5. where do they get $153 billion dollars from someone explain

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  6. And yet all the exec's are probably still getting their muti-million dollar bonuses each year!

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  7. The treasury will end up turning a profit on all the TARP programs. Following and Supporting.

    http://atweveryday.blogspot.com

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  8. this is why i left the country

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  9. I think that financial problems will remain.

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  10. Well at least its not $200 billion spent to date I guess...

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  11. Well just as long as it's China's paying ;)

    I know these companies are being held accountable for the money 'loaned' to them. BoA had to pay back the 45 billion it borrowed from taxpayers and on top of that all through 2010 there were all kinds of fees. Though 90% of those fees were from Ken Lewis's fantastic accounting team(sarcasm)

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  12. don't worry, soon the college bubble will collapse and then the whole system will be screwed.

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  13. Damn gov't always fuckin us over man, i wouldn't be surprised if the event that happened in Egypt happens here in the US.

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  14. Oh Obama, what have you done now?

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  15. i would be very surprised considering the average level of political conciousness is in the U.S.

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  16. Fannie Mae and Freddie Mac can suck a fat one

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  17. mmm, the usa is controlled with distractions. As are we Canadians.

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