Fannie, Freddie Cost the Government $291bn in 2009
Faced with growing losses on the value of its combined $1.5trn mortgage books, government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac added $291bn in subsidy costs to the Federal deficit by mid-year, according to the Congressional Budget Office (CBO) the agency tasked with recording costs incurred by the government.
That number may reach as high as $389bn over the course of this decade.
