Fannie’s turn: loses *another* $13b in Q1 asks for *another* $8.5b from Treasury, has now lost $136.8B and taken $75b in aid…
Update: here is that quote, it is courtesy of Calculated Risk:
…Greg Morcroft at MarketWatch reports:
Fannie sees no profits for the “indefinite future” … financial sustainability uncertain….
They aren’t even TRYING to make it look good anymore…one highlight in the WSJ said they do not see any chance of being profitable in the near term, pfft, Should’ve done the damn HOLC.
…the mortgage-finance company operating under federal conservatorship, said it will seek $8.4 billion in aid from the U.S. Treasury Department after reporting its 11th-straight quarterly loss.
The company said it had an $11.5 billion first-quarter loss in a filing today with the Securities and Exchange Commission. Washington-based Fannie Mae had posted $136.8 billion in losses over the previous 10 quarters and taken more than $75 billion in U.S. aid since April 2009….