Fannie and Freddie securities sale nets a 10% profit for US government! Though the housing and TARP bailouts are still being paid back, last week brought some good news.
Maybe, it's time we all took a deep breath and started looking at the glass as half-full, instead of half-empty. Then, again, I'm sure there are plenty of nay-sayers out there who simply WANT to continue to whine about the economy and yell about the bail-outs.
We are turning the metaphorical corner. Both the Republican administration that set the process in motion and the Democratic administration that continued it get to take credit for the emergency measures that helped slow down the economic freefall our nation faced four years ago. So, let's all just be happy that, while we are still on the edge, we are working our way back to security.
The profit from the securities, which are guaranteed by Fannie Mae and Freddie Mac, came from interest payments, principal, and rising prices for the securities. Read the New York Times story:
U.S. Completes Sale of Mortgage-Backed Securities, Earning $25 Billion
http://www.nytimes.com/2012/03/20/business/us-completes-sale-of-mortgage-backed-securities.html?_r=1&src=tp&smid=fb-share
WASHINGTON — The Treasury Department announced on Monday that it had finished selling the $225 billion in mortgage-backed securities it bought to help stabilize the markets during the worst of the financial crisis.
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