Friday, May 8, 2009

“The banking crisis is over” yeah, right.

Fannie Mae taps Treasury for further $19bn

Fannie Mae said on Friday it would draw a further $19bn of assistance from the US Treasury after a seventh consecutive quarterly loss – $23.2bn in the first quarter – drove its net worth below zero. Fannie said it expected more red ink in future quarters, which would require further help from the government.

Posted by devo @ 05:12 PM (873 views)
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2 thoughts on ““The banking crisis is over” yeah, right.

  • Not even asking for it – no ‘request’ for taxpayer money, no ‘please’ no ‘appeal’ for taxpayer assistance, just a bankrupt corrupt company drawing money from taxpayers.

    If this happened 100 years ago people would have armed themselves with pitchforks and stormed congress.

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  • I was watching Bloomberg earlier and one of the presenters said that the bailouts and stimulus packages have so far cost 13 trillion+ dollars. This was said without a hint of ‘HOLY SHIT, THATS A HUGE AMOUNT’. Has the world gone mad or have we been programmed after years of insulting bonuses paid to fat cats and bankers and the last few years of ‘free’ money for insolvent companies who now know they are just ‘too important’ to fail. 13 trillion, what the f*ck?

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