10/22/2010

The government's support of Fannie Mae and Freddie Mac will likely cost taxpayers about $154 billion, but that number could potentially double if the economy worsens, according to projections by the Federal Housing Finance Agency. The government has already spent $135 billion to help the mortgage giants. "Today's projections show that, in the most likely economic scenario, nearly 90% of the losses at Fannie Mae and Freddie Mac are already behind us," said Jeffrey Goldstein of the Treasury Department.

Related Summaries