We expect that, for the foreseeable future, the...

Beneath The Surface

Hi, I'm Kevin hailing from northern New Jersey and a recent graduate from Duke University.

My Tumblelog has no underlying theme or subtext. I hope to use this as a medium to share with others interesting, captivating, and/or amusing pieces of information that I have come across each day. Hopefully, in the process, I can enrich your day by posting things that you have not seen before.

"We expect that, for the foreseeable future, the earnings of the company, if any, will not be sufficient to pay the dividends on the senior preferred stock. As a result, future dividend payments will be effectively funded from equity drawn from the Treasury."

Fannie Mae Quarterly Report

It’s good to know that the Treasury has essentially provided Fannie and Freddie an endless amount of taxpayer money, despite these two government companies are failing enterprises and have no profit potential in the foreseeable future.

(via Wall Street Journal)