Fannie Mae loses $25.2 billion in one quarter, asks for bailout Agence France-Presse

Published: Thursday February 26, 2009





Print This Email This WASHINGTON (AFP)  Troubled US mortgage finance giant Fannie Mae said Thursday it lost almost 60 billion dollars last year and asked the Treasury Department for a further 15.2 billion dollars in aid.



The US government-controlled Fannie Mae reported a loss of 25.2 billion dollars in the fourth quarter driven mainly by the effects of a prolonged housing slump and a global financial crisis. It had a third quarter loss of 29.0 billion dollars.



For the full year of 2008, the company posted a loss of 58.7 billion dollars, almost 27 times higher than the 2007 loss of 2.1 billion dollars.



Fannie Mae said it submitted a request Wednesday for 15.2 billion dollars from the Treasury "in order to eliminate our net worth deficit as of December 31, 2008."





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