FANNIE MAE: NOW HOW MUCH WOULD YOU PAY?

It seems like it was just five days ago that you had to pony up another $10.6 billion for the government-owned mortgage guarantor Freddie Mac, after the former GSE reported an $8 billion loss.

I hope you got your money’s worth, because today Freddie’s moronic fraternal twin Fannie Mae is hitting you up for another $8.4 billion, having managed to lose more than $11.5 billion in the first quarter — plus a $1.5 billion dividend it paid to the Department of the Treasury for assistance, bringing its total lose in the quarter to $13.1 billion.

The bad news is that that’s the good news. Fannie lost nearly twice as much — $23.2 billion — in the first quarter of 2009. All told, the failed mortgage underwriter lost a whopping $72 billion last year. The worse news is that there is no conceivable end to these losses.

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