Fannie and Freddie show Q2 profits

In case you’re wondering, both Fannie Mae and Freddie Mac turned a healthy (and unexpected) profit in Q2 — $5.1 billion for Fannie and $3.0 billion for Freddie.

To put that in perspective, in Q2 of 2011, Fannie posted a loss of $2.9 billion.

They’ve also paid back about a quarter of the $188 billion the government spent to bail them out. If their profitability continues, they should be able to pay us back within a few years.

About Andrew Kantor

Andrew is VAR's editor and information manager, and -- lessee now -- a former reporter for the Roanoke Times, former technology columnist for USA Today, and a former magazine editor for a bunch of places. He hails from New York with stops in Connecticut, New Jersey, Cincinnati, Columbus, and Roanoke.
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