Fannie Mae is paying back 59.4 Billion to the US Treasury, as part of the payment due to the preferred shares owned by the US Government.
http://www.calculatedriskblog.com/2013/ ... of-81.html
They made 8.1 Billion in Net Income in the 1st quarter, and are recognizing income on the release of the valuation allowance on it's Deferred Tax Assets. It is believed that Fannie will borrow the additional cash from the private sector.
Still, that's 59.4 Billion dollars to the US Treasury.
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Our first challenge is to create an entire economic infrastructure, from top to bottom, out of whole cloth.
-CEO Nwabudike Morgan, "The Centauri Monopoly"
Sid Meier's Alpha Centauri (Firaxis Games)
09 May 2013, 11:29 am
