Fed takeover of Fannie and Freddie to cost taxpayers $389B

06/21/2010 | New York Times (tiered subscription model), The

The government's decision in September 2008 to take over Fannie Mae and Freddie Mac will ultimately cost taxpayers $389 billion, thanks to the increasing number of foreclosed homes owned by the two mortgage-finance companies across the country, according to the Congressional Budget Office. The companies owned 163,828 houses at the end of March, with the taxpayer tab currently at $145.9 billion.

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