POLITICS
07/09/2010 05:12 am ET Updated May 25, 2011

Congress Overlooks Fannie Mae, Freddie Mac In Financial Reform Debate

Freddie -- already propped up with $52 billion in taxpayer funds used to rescue the company from its own mistakes -- recorded a loss of $6.7 billion and said it would require an additional $10.6 billion from taxpayers to shore up its financial position.

The news caused nary a ripple in the placid Washington scene. Perhaps that's because many lawmakers, especially those who once assured us that Fannie and Freddie would never cost taxpayers a dime, hope that their constituents don't notice the burgeoning money pit these mortgage monsters represent.

Read more on New York Times

Subscribe to the Politics email.
How will Trump’s administration impact you?