Because of the guarantees, Fannie and Freddie must pay for the losses. – They are accounting losses on their books as economic losses, he said.. Last week, Freddie requested $ 6 billion additional aid the greatest wish since April 2013, after losing $ 6 billion it reported in the third quarter.The government-controlled company said Tuesday that it lost $ 7.6 billion in the third quarter. Low mortgage rates reduced profits and declining home prices caused more defaults it was guaranteed.Taxpayers have spent more than $ 169,000 to rescue Fannie and Freddie, the most expensive bailout of the financial crisis of 2008.
The government rescued Fannie Mae and sister company Freddie Mac in September 2008 losses losses on mortgage loans bitterly. Since then, a federal controlled controlled their financial decisions.
The following video is part of our Motley Fool Conversations series, in which Motley Fool editors Austin Smith and Andrew Tonner discuss trends in their favorite companies.Overseas, Asian and European markets were greater. Of the Hang Seng Hong Kong won 2 % of, as Japan’s Nikkei rose 1.1 %. The price of gold next marching beat a new record around $ 1,050 ounce and the petroleum prices were also higher.
were also higher before the opening bell. Late in Joined yesterday, AT & T a sudden vice versa constraints voice-over – Internet phone calls in the popular iPhones Apple, according to a quote of Verizon and Google which to such calls about Google Voice at two models of would be permit the search engine company Android OS. Shares in Google were slightly lower advance the market open.
On the economic calendar that be reports U.S. Crude oil inventories at 10:30 ET, accepted by smaller reports consumers of debt and which Treasury Department’s monthly budgetary expected.