Fannie and Freddie for the future

[timesjoke]

Recent reports show that Fannie Mae has lost $13 billion in the first quarter, that is a improvement from the $16 billion lost in the 4th quarter last year.

Both Fannie and Freddie are asking for more money to continue, Fannie is asking for $8 billion and Freddie is asking for $10 billion just to keep going and both have admitted that there is no end to their money problems in sight anytime soon.

“Due to current trends in the housing and financial markets, we continue to expect to have a net worth deficit in future periods, and therefore will be required to obtain additional funding from Treasury.�

In my opinion we need to cut our losses and get away from Fannie and Freddie, what say you guys?