Fannie posts $29B 3Q loss, $100B may not be enough (AP)

Filed Under (Personal Finance) by on 10-11-2008

In this Sept. 25, 2008 file photo, President and Chief Executive Officer of Fannie Mae, Herbert Allison, Jr.,  testifies before a House Financial Services Committee hearing on the Fannie Mae and Freddie Mac takeover on Capitol Hill in Washington. Government-controlled mortgage finance company Fannie Mae said Monday, Nov. 10, 2008, it lost $29 billion in the third quarter as it took a massive tax-related charge and saw mortgage defaults continue to rise. (AP Photo/Kevin Wolf, file)AP - Fannie Mae on Monday posted a $29 billion loss in the third quarter as it took a massive tax-related charge, and warned that its $100 billion lifeline from the government may not be sufficient for its solvency should it continue to lose money.

--- AP ...

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