Yes, Fannie Mae is seeking another $4.6 Billion in aid from the Treasury Department. This bailout is to cover its Fourth Quarter losses from 2011, or so claims their chief financial officer, Susan McFarland. So much for the promise of Barack Obama that the Age of Bailouts is over. Freddie Mac will undoubtedly come hat-in-hand seeking more money, too. Meanwhile, a wave of resignations and retirement announcements is hitting Wall Street. Top executives from Bank of America, Goldman Sachs, and other institutions are fleeing the sinking ships. As the price of gold and oil continue to rise, so too has unemployment in Europe, now hitting a new high since 1999 at 10.6%. Spain has a whopping 23.3% unemployment rate! Must be all those green jobs they created! Our own unemployment in the United States is far above the ′official′ numbers reported by the Obama-favoring Media.

fannie mae 4.6 billion aid

This is just more evidence that Obama has yet to deal with the core problems facing the economy. All of his rants against Wall Street amount to nothing as the fundamentals of the markets continue to teeter on the edge of the abyss. The world is still flooded with worthless paper. Mortgage-backed securities, derivatives, and an ever increasing currency supply. Governments are loaded with debt well past their eyeballs as we condemn whole future generations to paying for our mistakes.

There seems little doubt that Fannie Mae will get the $4.6 Billion in aid that CFO Susan McFarland is requesting from the Treasury Department to cover its Fourth Quarter losses. Why not? After all, its being run by Obama′s pick, Timothy Geithner, the man who was at the helm when the financial ship ran aground. I′m sure that after the election, we will see a fresh wave of bailouts for Freddie Mac, Bank of America, Goldman Sachs, and the rest of the Wall Street bunch. IF they can wait that long! Something tells me that they won′t, especially with the situation in Europe getting worse by the day.