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Fannie Mae reports $11.5B loss, requests $8.4B to stay afloat

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"Fannie Mae, the government-controlled mortgage finance giant, said Monday that it cannot imagine a day when it would turn a profit, as the firm announced a $11.5 billion loss and said it would request $8.4 billion from taxpayers to stay afloat. The new demand for taxpayer aid brings the total bill for Fannie and its sister company Freddie Mac to $145 billion. In total, Fannie lost $13.1 billion in the first three months of the year, taking into accounting a $1.5 billion dividend to the Treasury in exchange for aid. Fannie lost $23.2 billion in the same period a year ago."

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