Wednesday, April 22, 2009

You Own 'Em America!

I am working on an expanded post about Fannie, Freddie and the Fed Home Loan Banks (little cousin of the GSE family, but just as poorly managed). I just wanted to share a few things because I forgot how ridiculous this whole situation is:

- Fannie & Freddie lost a combined $108.4 billion in 2008

- Total combined obligations total $6.2 trillion

- The U.S. Government owns roughly 80% of Fannie & 80% of Freddie

This effectively increases the national debt by roughly by 55%:

Debt of the General Fund: $11.2 trillion
GSEs: $6.2 trillion

Total: $17.4 trillion

That is $2.7 trillion more than last year's GDP.

1 comment:

MK said...

The Fed Home Loan Bank System sports $1.14 trillion in debt.