BREAKING NEWS

Fannie Mae asks for additional $2.5 billion in federal aid

By ASSOCIATED PRESS

NOVEMBER 6, 2010 03:27

WASHINGTON — Government-controlled mortgage buyer Fannie Mae is asking for $2.5 billion in additional federal aid after posting a narrower loss in the third quarter.

Fannie Mae said Friday it lost $3.46 billion, or 61 cents a share, in the July-September quarter. That takes into account $2.1 billion in dividend payments to the Treasury Department. It compares with a loss of $19.8 billion, or $3.47 a share, in the third quarter of 2009.

The government rescued Washington-based Fannie Mae and sibling company Freddie Mac about two years ago and it estimates that will cost taxpayers up to $259 billion. That's nearly twice the $133.4 billion Fannie and Freddie are in line to receive from taxpayers so far and would make it the most expensive bailout of the financial crisis.

Iran, Pakistan call on UN security council to take action against Israel

By REUTERS

04/24/2024 11:55 AM

Senior Hamas official: 'We offered to release 40 hostages'

By JERUSALEM POST STAFF

04/24/2024 11:45 AM

Anti-tank missile falls near Yiron, fire breaks out

By JERUSALEM POST STAFF

04/24/2024 11:40 AM

Stabbing attack near Hebron leaves IDF soldier lightly wounded

By JERUSALEM POST STAFF

04/24/2024 11:11 AM