August 6, 2015
THE GREAT DANGER OF THE BAILOUT WAS ALWAYS THAT IT WOULD BE TOO SUCCESSFUL:
Mortgage giant Fannie Mae posts $4.6B profit in 2Q; paying $4.4B dividend to government (MARCY GORDON, 8/06/15, AP)
Mortgage giant Fannie Mae reported net income of $4.6 billion from April through June, up from $3.7 billion a year earlier. Rising interest rates enabled Fannie to post gains on the investments it uses to hedge against swings in rates.The second-quarter results released Thursday marked the 14th straight profitable quarter for the government-controlled company.Washington-based Fannie said it will pay a dividend of $4.4 billion to the U.S. Treasury next month. With that payment, Fannie will have paid a total $142.5 billion in dividends.Fannie received $116 billion from taxpayers during the financial crisis in September 2008.
Posted by Orrin Judd at August 6, 2015 11:58 AM
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