Fannie Mae says they need upwards of $16 billion from the US Treasury to cover additional losses.
WSJ:
[...]The disclosure late Monday from the government-backed provider of funding for mortgages came three days after its main rival, Freddie Mac, estimated that it would need $30 billion to $35 billion from the Treasury. That is on top of $13.8 billion that Freddie received from the Treasury late in November; Fannie hasn’t yet drawn funds from the Treasury.
The announcements raise concern about whether Congress will have to allot more federal money to shore up the two companies, which own or guarantee nearly half of U.S. home loans outstanding. In September, when the companies’ regulator took over management control of them in the face of growing losses, the Treasury agreed to provide as much as $100 billion of capital to each firm if needed.[...]
I hope our new Treasury Secretary Tim Geithner (who was approved today by a vote of 60 to 34) has a recurring payment system setup for all the banks and other institutions. Anyone who thought the Government bailouts would be a one time thing are mistaken. We will see companies going back to our wallets many times in the coming year.
