Speaking of those little green pieces of paper, Fannie Mae lost 72 billion of them in 2009, the pathetic government-sponsored enterprise (GSE) announced late Friday. That’s about $136,000 a minute.
Here’s Ian’s proposal for a new business plan for Fannie Mae: “Fire everyone except one janitor. Pay him to shovel stacks of $100 bills into the furnace all day, every day, all year. They’d save billions.”
Ian’s plan, of course, will fall on deaf ears. Fannie, in turn, will ask the Treasury for another $15.3 billion this week. Its total bailout tab will thus exceed $76 billion. For the same price, the Treasury could own outright a tiny little energy company like Conoco Phillips.
Fannie’s debt-addict loser of a brother Freddie Mac posted a smaller $21.6 billion loss last week too, if that makes you feel any better. He must be in recovery, too.
Here’s Ian’s proposal for a new business plan for Fannie Mae: “Fire everyone except one janitor. Pay him to shovel stacks of $100 bills into the furnace all day, every day, all year. They’d save billions.”
Ian’s plan, of course, will fall on deaf ears. Fannie, in turn, will ask the Treasury for another $15.3 billion this week. Its total bailout tab will thus exceed $76 billion. For the same price, the Treasury could own outright a tiny little energy company like Conoco Phillips.
Fannie’s debt-addict loser of a brother Freddie Mac posted a smaller $21.6 billion loss last week too, if that makes you feel any better. He must be in recovery, too.
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