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Ninety Six Billion (and counting)

From Yahoo news (HT: Drudge):

The mounting price tag for the rescue of Fannie and its goverment-sponsored sibling, Freddie Mac, is surpassed only by insurer American International Group Inc., which has received $182.5 billion in financial support from the government so far.

Fannie Mae’s new request for $10.7 billion from the Treasury Department will bring the total for Fannie and Freddie to nearly $96 billion. Freddie is expected to report its quarterly results on Friday.

The government has budgeted $400 billion for Fannie and Freddie’s losses. I wonder if it will be enough. If I understand the data correctly, the Fed bought about $600 billion of Fannie and Freddie’s assets. Wonder what they will ultiamtely be worth.


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