Friday, October 22, 2010

Tab for Fannie, Freddie could soar to $363 BILLION!

$259 Billion. That was the number this morning. The came the revised number this afternoon: $363 Billion. Better than a third of a $TRILLION!:

From the AP via The Detroit News:
The government spelled out Thursday just how much the most expensive rescue of the financial crisis will end up costing taxpayers — as much as $259 billion for mortgage buyers Fannie Mae and Freddie Mac.

That figure would be nearly twice the amount Fannie and Freddie have received so far.
And that increased by more than $100 billion by the afternoon. And it all makes the bailouts that people hate seem like a drop in the well (Rasmussen: Most Voters Oppose the Reelection of Anyone Who Voted for the Health Care Law, Auto Bailouts, Stimulus Plan).
Fannie and Freddie's rescue has cost $135 billion so far. Their bailout could end up costing taxpayers between $142 billion and $259 billion through 2013, the Federal Housing Finance Agency projected. Those figures take into account dividends that the agency estimates the two companies will end up repaying.
And the key snippet from the entire piece:
The two mortgage finance companies have been operating under federal control for more than two years.
Tack that track record to that of the Post Office and Amtrak, social security and Medicare. All either bankrupt or well on their way to being bankrupt. And ObamaCare will be different... how? Speaking of, via HotAir: New study shows ObamaCare subsidies potentially five times higher in first year than predicted. Hang onto your butts! That money hole? It's betting bigger:

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