It’s your money in the “government cash infusion,” and it’s your house value they artificially inflated and then artificially crashed. It’s also your 401k that’s in the tank because of these guys. From the WaPo. Emphasis mine.
Fannie Mae, the District-based mortgage finance giant taken over by the government in September, yesterday reported a loss of $29 billion ($13 a share). That compared with a loss of $1.4 billion ($1.56) in the corresponding period in 2007.
…The losses sliced the company’s overall value — assets minus liabilities — from $41.4 billion on June 30 to $9.4 billion on Sept. 30.
The company estimated that home prices this year would decline about 9 percent.
“If current trends in the housing and financial markets continue or worsen, and we have a significant net loss in the fourth quarter of 2008, we may have a negative” value at the end of the year, the company said. That would prompt a government cash infusion.
What’s sickening is how many millions Franklin Raines, Tim Howard and Jim Johnson bilked the taxpayers for in salaries and bonuses, and how much of this nation’s wealth they helped destroy. Their actions are at least as evil as anything Enron did.
These guys should be sharing a jail cell with Barney Frank. Instead, 2 of them have been Obama advisors.