Freddie, Fannie keep on stiffing U.S. taxpayers
Created on July 21, 2010
The U.S. Treasury has yet to see repayment of 62 percent of federal bailout funds. Although AIG still owes its entire $48 billion loan, the insurance giant isn’t the chief deadbeat. Freddie Mac and Fannie Mae, the biggest mortgage finance companies, haven’t paid back a cent of $145 billion. Banks and financial institutions, meanwhile, made good on 75 percent of their loans.
Source: Propublica.org and Heritage Foundation calculations.
FINANCIAL REFORM (15%) (19%) (21%) (45% of total outstanding funds) $48 billion $60 billion $69 billion $145 billion AIG Banks/financial institutions Auto companies Freddie�0;0;3;& Fannie Loaned $48 billion
Repaid $0 billion Loaned $245 billion
Repaid $184 billion Loaned $80 billion�0;0;3;Repaid $11 billion Loaned $145 billion
Repaid $0 billion Notes: Figures as of July 19, 2010. Figures for auto companies include suppliers; figures do not include Toxic Asset Relief and Foreclosure Relief projects. Freddie, Fannie keep on stiffing U.S. taxpayers The Heritage Foundation