Fannie Mae asks for 8.4 billion dollars after 1st quarter loss. They have already begged and received billions of dollars and now they come begging for more. We are told that the economy is getting better but yet these fools coming begging for more, the worst part is that the government will give them this money, even though they know they will be back for more. We are pouring hard earned tax payers money into a bottomless pit
Another sign that the economy is not well. NY City is facing a 9.2 billion deficit and they are still debating on what needs to be one. The latest proposal is to furlough 100,000 state workers. State after state is facing huge budget deficits; Muni bonds are being sold left right and centre to raise funds creating yet another huge potential problem. Many states could potentially default on these bonds if the economy continues to worsen. If this terrible economy is a sign of things getting better, then one wonders what they will have to say when things really start to sour up again.