"Troubled mortgage-finance giant Fannie Mae reported on Monday that it lost $29 billion in the most recent quarter, putting the firm closer to having to draw on the $100 billion in taxpayer dollars committed to it in September.
Fannie Mae said that as of Friday it had yet to draw on those funds. But the company warned in a filing that 'if current trends in the housing and financial markets continue or worsen...we may have a negative net worth as of December 31, 2008.'
In that event, Fannie said it would need to tap into an unspecified amount of those taxpayer dollars."
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Fannie Mae reports $29 billion loss
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