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Tuesday, November 11, 2008

Fannnie Mae Bleeds Billions

That fine, well-oiled and well-honed government institution created, used and abused by Democrats known as Fannie Mae has ruptured like a hemorrhaging artery. Biz Journals:

    In its first quarterly report since being taken over by the government, Fannie Mae reports a record third-quarter loss.

    The Washington, D.C.-based mortgage giant lost $29 billion, or $13 per share, compared to a net loss of $1.4 billion, or $1.56 per share a year ago. Fannie Mae (NYSE: FNM) also said it may have to seek government funding, although it has not yet tapped any federal aid.


    Fannie Mae stock fell 4 cents to 70 cents per share Monday. Its stock has lost 98 percent of its value this year.

I bet the answer to fixing Fannie is shoveling billions and billions of more dollars into into it. That always works, doesn't it?

I can't wait to see how the Dems spin this as the fault of the Republicans, and I can't wait to see how the Republicans sit there, like the putzes many of them are, not fighting back and doing nothing to defend themselves and blaming the real culprits, the Democrats.

Related Fannie news is that Rahm Emanuel, soon to be Chief of Staff for Barack Hussein Pbama, Junior, was a member of the Fannie board earning...depending on various sources, approximately $340,000 while others speculate he may have walked away with as much as $90 Million.

Man, when the Dems get their hands on something they just don't f8ck it up good, they impale it, bleed it dry, grind it up, burn it, explode it and burn it again just for good measure.


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Yup. More of Booosh's failed economic policies in that he failed to stop the Dems from stealing everything in sight. Tough job I know. I'm so certain Obi Wan Fraudobi and Rahm-me will change that. Bwaaaahahahahahaha. I just made myself laugh.
Obi Wan Fraudobi...LMAO! Your mind works in a mysterious and magically comedic way! Fantastic!
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