Fannie Mae, Freddie Mac to Send Taxpayers $8.3 Billion This Quarter
The Washington Post reported on Thursday that Frannie Mae and Freddie Mac are set to hand out $8.3 billion worth of profits to tax payers this quarter.
The companies, both based in the D.C. area, have been required to turn their profits over to the U.S. Treasury under the terms of the government bailout that rescued them during the Great Recession.
“We reported another strong quarter of financial performance with solid revenues and an impressive book of business that only continues to improve,” said Timothy Mayopoulos, chief executive of Fannie Mae.
Image via flickr/Scott Lewis