Fed Takeover of Fannie and Freddie To Cost Tax Payers $389B
Jun. 21, 2010
The government's decision in September 2008 to take over Fannie Mae and Freddie Mac will ultimately cost taxpayers $389 billion, thanks to the increasing number of foreclosed homes owned by the two mortgage-finance companies across the country, according to the Congressional Budget Office. The companies owned 163,828 houses at the end of March, with the taxpayer tab currently at $145.9 billion.
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