BUSINESS
08/23/2009 05:12 am ET Updated May 25, 2011

Fannie Mae, Freddie Mac Are Most Costly Bailouts

NEW YORK (CNNMoney.com) -- The first big government bailout of the financial crisis -- the takeover of mortgage finance giants Fannie Mae and Freddie Mac -- is poised to be the most expensive and complicated to complete.

Since Congress essentially wrote a blank check to the Treasury Department in July 2008 to do what needed to be done to inject capital into the two firms, Fannie (FNM, Fortune 500) has received $34.2 billion of direct government support while Freddie (FRE, Fortune 500) has received $51.7 billion.

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Read more on Jul. 22, 2009